Japan posts steepest pay growth in 21 years
Jiji -- Aug 08
Overall pay for workers in Japan in June posted the steepest growth in over 21 years in real terms, as bonuses increased on upbeat corporate earnings, the labor ministry said Tuesday.

The price-adjusted real wage index was up 2.8 pct year on year, rising the most since it jumped 6.2 pct in January 1997, months before a financial crisis gripped Japan.

The average pay in nominal terms increased 3.6 pct to 448,919 yen, marking the biggest rise also in 21 years and five months. Special pay including bonuses surged 7.0 pct to 183,308 yen.

A ministry official said it is necessary to keep watch on the pay situation because the timing of bonus payments can differ from year to year.

According to a Japan Business Federation, or Keidanren, survey released Wednesday, the average of summer bonuses agreed by major companies shot up 8.62 pct from the previous year to 953,905 yen, the highest level since the survey started in 1959.

News source: Jiji
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