Japan wages rise y/y, however inflation adjusted wages proceed to fall

Japan Labour Market Data – June

• Nominal Cash Earnings (y/y): +2.5%
  (vs. +3.1% expected; prior +1.0%; revised prior +1.4%)

• Real Cash Earnings (y/y): –1.3% … this is the sixth straight month of decline
  (vs. –0.7% expected; prior –2.9%; unrevised)

• Cash Earnings – Same Sample Base (y/y): +3.0%
  (vs. +3.5% expected; prior +2.3%; revised prior +2.1%)

• Scheduled Full-Time Pay – Same Base (y/y): +2.3%
  (vs. +2.5% expected; prior +2.4%)

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“Same Sample Base” or “Same Base” refers to wage data collected from the same set of firms over time, excluding newly added or removed companies. This gives a clearer view of underlying wage trends, filtering out distortions from changes in the survey sample. It helps show whether wages are truly rising at the same workplaces.

This article was written by Eamonn Sheridan at investinglive.com.