Japan real and nominal wage pay drops, to weigh over consumption

Omkar Godbole FXStreet Contributor

Basic pay for Japan's workers fell for the first time in more than a year in June due to a decline in summer bonus payments, and real wages dropped at the fastest pace in two years.

The labor ministry data released today showed nominal cash earnings fell an annual 0.4% in June, the first decline since May 2016. Real, or inflation-adjusted, wages fell an annual 0.8% in June, the biggest decline since June 2015. Bonus payments fell 1.5% in June from a year ago, the first decline since June.

The decline in the real wages could weigh over the consumer spending.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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