— Japan Nov Average Base Wages Rise 0.3% Y/Y, Vs Oct -0.4%
— Japan Nov Overtime Pay Rises 1.3% Y/Y, Vs Oct +2.9%
— Japan Bonus And Other Special Pay Dn 22.4% Y/Y, Vs Oct +7.4%
TOKYO (MNI) – Total average monthly cash earnings per regular
employee in Japan fell 1.0% y/y to Y276,218 in November, after showing
no change in October and -0.4% in September, data from the Ministry of
Health, Labor and Welfare released on Wednesday showed.
November wages fell as deterioration in both overtime pay and
bonuses and other special pay more than offset improvements in “base
wages” — the largest subcomponent of wages.
Average base wages, which are seen as a key indicator for a
recovery, rose 0.3% on year in November, posting the first rise in 11
months, after -0.4% in October and -0.3% in September.
Overtime pay rose 1.3% on year in November, with the pace of the
increase decelerating from +2.9% in October.
Bonuses and other special pay fell 22.4% y/y in November, posting
the first fall in two months, after +7.4% in October and -6.5% in
September.
Overtime hours worked in the manufacturing sector were unchanged
y/y in November, after showing +4.2% in October, +2.1% in September and
-0.7% in August.
Compared to the previous month, overtime hours worked at
manufacturers fell 2.5% on a seasonally adjusted basis, showing the
first m/m fall in two months, after +0.9% in October and -0.7% in
September.
Total overtime hours worked for all industries were down 0.9% on
year in November, posting the first fall in three months.
Total hours worked rose 0.1% on year in November, after showing
-0.1% in October and no change in September.
The number of regular workers rose 0.6% y/y in November, posting
the 22nd monthly rise in a row, after +0.5% in October.
Cash earnings include overtime and bonuses. Regular employees are
workers on permanent payrolls as well as those with part-time status.
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