Japan Labor Cash Earnings y/y

Country:
Japan
JPY, Japanese yen
Sector:
Labor
Low 0.2% -0.5%
-0.4%
Last release Importance Actual Forecast
Previous
0.5%
0.2%
Next release Actual Forecast
Previous
  • Overview
  • Chart
  • History
  • Widget

Labor Cash Earnings y/y show the change in the average income per one full-time employee (taxes are not included) in the current month compared to the same month of the previous year. The calculation includes overtime pay and bonuses and does not include income from dividends and financial assets.

Average wage growth reflects economic expansion. The index is used to measure inflation. The index value that exceeds the forecast value has positive effects on yen.

In Japan, despite the economic upturn, changes in wages of workers are very weak. This is a social problem, as Japanese companies continue to hold internal reserves. Also, Japan used to be called an all-middle-class society, and many people had similar incomes, but the gap has been widening since 2000s. Therefore, the distribution of wage income is a graph with two mountains.

The minimum wage varies depending on the area, but it is almost always around 1000 yen/h. In addition, overtime pay is often not paid fairly in Japan, but many Japanese still do not strike or change jobs. As the law makes it difficult to lower wages once they are raised, the profits distributed to workers are often paid with bonuses. Data on some wages in the 2010s has been erased because the government has tampered with it.

Last values:

actual data

forecast

The chart of the entire available history of the "Japan Labor Cash Earnings y/y" macroeconomic indicator. The dashed line shows the forecast values ​​of the economic indicator for the specified dates.

A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values ​​of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.

Date (GMT)
Reference
Actual
Forecast
Previous
Mar 2021
0.2%
-0.5%
-0.4%
Feb 2021
-0.2%
-1.5%
-1.3%
Jan 2021
-0.8%
-1.7%
-3.0%
Dec 2020
-3.2%
-1.2%
-1.8%
Nov 2020
-2.2%
-1.3%
-0.7%
Oct 2020
-0.8%
-2.0%
-1.3%
Sep 2020
-0.9%
-2.2%
-1.3%
Aug 2020
-1.3%
-1.5%
-1.5%
Jul 2020
-1.3%
-1.0%
-2.0%
Jun 2020
-1.7%
-0.6%
-2.3%
May 2020
-2.1%
0.5%
-0.7%
Apr 2020
-0.6%
0.6%
0.1%
Mar 2020
0.1%
1.6%
0.7%
Feb 2020
1.0%
2.1%
1.2%
Jan 2020
1.5%
1.3%
-0.2%
Dec 2019
0.0%
0.6%
0.1%
Nov 2019
-0.2%
0.6%
0.0%
Oct 2019
0.5%
1.1%
0.5%
Sep 2019
0.8%
0.4%
-0.1%
Aug 2019
-0.2%
-0.1%
-1.0%
Jul 2019
-0.3%
-0.9%
0.4%
Jun 2019
0.4%
-0.9%
-0.5%
May 2019
-0.2%
0.2%
-0.3%
Apr 2019
-0.1%
0.3%
-1.3%
Mar 2019
-1.9%
0.3%
-0.7%
Feb 2019
-0.8%
0.8%
-0.6%
Jan 2019
1.2%
0.8%
1.5%
Dec 2018
1.8%
1.7%
1.7%
Nov 2018
2.0%
1.7%
1.5%
Oct 2018
1.5%
1.7%
0.8%
Sep 2018
1.1%
0.5%
0.8%
Aug 2018
0.9%
0.4%
1.6%
Jul 2018
1.5%
0.3%
3.3%
Jun 2018
3.6%
0.2%
2.1%
May 2018
2.1%
0.2%
0.6%
Apr 2018
0.8%
0.2%
2.0%
Mar 2018
2.1%
0.2%
1.0%
Feb 2018
1.3%
0.7%
1.2%
Jan 2018
0.7%
0.7%
0.9%
Dec 2017
0.7%
0.6%
0.9%
Nov 2017
0.9%
0.5%
0.2%
Oct 2017
0.6%
0.4%
0.9%
Sep 2017
0.9%
0.3%
0.7%
Aug 2017
0.9%
0.1%
-0.6%
Jul 2017
-0.3%
0.1%
0.4%
Jun 2017
-0.4%
0.2%
0.6%
May 2017
0.7%
0.2%
0.5%
Apr 2017
0.5%
0.1%
0.0%
Mar 2017
-0.4%
0.3%
0.4%
Feb 2017
0.4%
0.3%

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