- Japan's real cash earnings, adjusted for inflation excluding rents, climbed 1.5% in August from a year earlier, matching the median economist forecast, according to the labor ministry.
- The advance marks an eighth consecutive monthly gain in real wages, the longest streak of increases in almost a decade.
- Base salaries rose 3.8%, underpinning the steady growth in real earnings that the ministry cited as the driver of the increase.
- Prime Minister Sanae Takaichi's inflation-relief measures helped bolster households' purchasing power, supporting the real wage gains.
Quotes
“Japanese workers' real wages rose for an eighth straight month, the longest streak of gains in almost a decade, as Prime Minister Sanae Takaichi's inflation-relief measures helped bolster households' purchasing power.”
“The ministry said that the increase was underpinned by steady growth in base salaries, which rose 3.8%.”