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Japan's real wages fall in February for 23rd month

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The impact of the "shunto" spring wage negotiations that saw the highest pay increases in 33 years at major Japanese companies will be reflected in future data, according to the ministry.

At this spring's wage negotiations, domestic companies agreed to wage increases averaging 5.24 percent, according to a survey released Thursday by the Japanese Trade Union Confederation.

Only 16.5% of employees in Japan belong to labor unions, so consistently using this shunto data as evidence of sustainable nominal wage growth is deceitful, particularly now that inflation-adjusted real wages have fallen in Japan for 23 consecutive months. According to the Nikkei, Japan is the only major economy where income failed to rise in real terms in 2023.

Labor Data Source: https://www.nippon.com/en/japan-data/h01571/

15 ( +19 / -4 )

For the time since I arrived in Japan all of those years ago , am seeing more and more poor people.The Japanese have a lot of dignity, so try and hide I, but there is no denying that it has become a shell of its former self.

The kleptocratic LDP has totally ravaged this country. Pillaged everything.

Even now when you go to the countryside you can still see hundreds of dump trucks shuffling dirt from one semi-deserted village to an even more deserted riverbank. The amakudari and corruption in Japan knows no bounds and coupled with an apathetic electorate the consequences are and will be dire.

The only natural assets Japan has are its workers, but they are being ripped off big time.

Can't see a good way out of this mess, to be honest.

-13 ( +17 / -30 )

Prime Minister Fumio Kishida's government has repeatedly asked business leaders to increase wages at a pace exceeding inflation.

They can ask however many time they like, wages are only revised once a year - in April.

The impact of the "shunto" spring wage negotiations that saw the highest pay increases in 33 years at major Japanese companies will be reflected in future data, according to the ministry.

Again, that 5.2 percent increase will be effective from April salaries. by the end of 2024 JGov realise it was not enough and they can ASK companies to increase again. Only that to happen in April'25.

This is a vicious cycle. Prices keep increasing 365 days a year. But your salary can increase only once.

10 ( +13 / -3 )

Getting poor slowly.

-9 ( +10 / -19 )

Prime Minister Fumio Kishida's government has repeatedly asked business leaders to increase wages at a pace exceeding inflation.

This goes to show that civil servants just have no clue about business and shouldn't be allowed anywhere near finance.

How can business leaders increase wages? Where is the money going to come from?

7 ( +13 / -6 )

Totally agree with Spitfire

In my thirty years here I've noticed the amount of poor rapidly rising, usually the elderly.

Also a lot of single older males.

There usefulness has been served .

Really sad

-12 ( +7 / -19 )

That should read, “for 23rd year.”

-6 ( +5 / -11 )

@Spitfire

Yes, I’m in agreement with you and others here that have noticed the chronic decline over the years.

I find it strange though to see how many downvotes that your post has received.

Are there that large a number of people in denial and in total ignorance about what is happening in Japan?

-5 ( +7 / -12 )

LDP regime doesn't intend to enrich general public.

Tax revenues or large corporations' profit are largest ever but those are never returned to public.

Present Kishida government depends even reconstruction of Noto peninsula on self-help of citizen despite economic super power.

-3 ( +5 / -8 )

Sun is setting....

-8 ( +4 / -12 )

"Price rises have begun to stabilize," a ministry official said. 

Quite possibly the best spin on economics I have ever read...

-1 ( +3 / -4 )

sinking ship
-3 ( +6 / -9 )

This goes to show that civil servants just have no clue about business and shouldn't be allowed anywhere near finance.

How can business leaders increase wages? Where is the money going to come from?

Oh, I don't know, how about the record profits they are posting and greedily pocketing year after year instead of increasing salaries to those who are responsible for said record profits?

0 ( +0 / -0 )

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