TOKYO :Japan's real wages in November fell 3.8 per cent from a year earlier, their fastest rate in more than eight years, as inflation undercut workers' pay, dealing a blow to policymakers' hopes of achieving faster economic growth led by higher wages.Adding to the gloom, nominal annual pay growth slowed mark
TOKYO :Japan's real wages in November fell 3.8 per cent from a year earlier, their fastest rate in more than eight years, as inflation undercut workers' pay, dealing a blow to policymakers' hopes of achieving faster economic growth led by higher wages.
The data underscored the challenge for Prime Minister Fumio Kishida's government in seeking faster wage hikes that outpace rising inflation, encourage spending and stimulate the economy. The objective is the focus of the upcoming annual"shunto" labour-management talks to be concluded in mid-March. Sluggish wage recovery remains a pressing issue for Japan as surging living costs hurt households and weigh on consumer spending in the economy, the world's third largest.
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