Japan’s real wages fell at their fastest rate – 3.8 percent – in more than eight years in November as a result of higher inflation, while nominal pay growth slowed despite rising for the 11th straight month, official data showed. | Reuters
It was the fastest pace of decline since a 4.1-percent drop in May 2014 and followed a revised 2.9 percent fall in October. Moreover, real wages were in negative territory for the eighth month in a row due to higher inflation.
Nominal total cash earnings were up 0.5 percent in November but the pace of growth slowed from a revised 1.4% gain in October, led by falls in special payments such as bonuses. Industries such as transportation and wholesales showed double-digit falls in special payments, the data showed.
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