Japan's real wages fell the most in nearly nine years in January, official data showed, as four-decade-high inflation squeezed the purchasing power of consumers and undercut efforts by policymakers to revive a COVID-ravaged economy.
"Real wages have probably hit the bottom in January as government subsidies on electricity and gas charges have taken effect in February and base effects of commodity price hikes have run their course," said Azusa Kato, senior economist at BNP Paribas Securities.
Total cash earnings, or nominal wages, posted a 0.8% year-on-year gain in January, the data showed, much weaker than a revised 4.1% growth in December, when strong one-off winter bonusesThe feeble nominal growth in wages in January was well short of the 5.1% consumer inflation rate used to calculate pay in real terms. The inflation rate excludes owners' equivalent rent.
Overtime pay, a gauge of business activity strength, rose 1.1% year-on-year in January, its weakest growth in 22 months.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Mental health advocates: Continuing racial and social inequities driving up youth suicide numbersThere are alarming statistics when it comes to suicide. Studies show the rate among Black young people has nearly doubled since 2014. Mental health advocates say continuing racial and social inequities have been driving those numbers up. csloantv reports.
Leer más »
Brazilian Tax Authority Numbers Reveal Cryptocurrency Market Recovery in January – Bitcoin NewsThe Brazilian tax authority revealed growth in the volume of cryptocurrency transactions, with $2.85 billion dollars being transacted during January.
Leer más »
EUR/USD: January low of 1.0480/1.0440 is crucial support zone – SocGenA move below the January low of 1.0480/1.0460 could see the EUR/USD pair extending its decline, economists at Société Générale report. 1.0800 must be
Leer más »
Singapore: Retail Sales surprised to the downside in January – UOBSenior Economist at UOB Group Alvin Liew reviews the latest release of Retail Sales in Singapore. Key Takeaways “Singapore’s retail sales started the
Leer más »
McCarthy's Release of January 6 Footage Offers Hope for Clarity'Mccarthy's release of January 6 footage offers hope for clarity'
Leer más »
US: Factory Orders decline by 1.6% in January vs. -1.8% expectedThe data published by the US Census Bureau revealed on Monday that new orders for manufactured goods, Factory Orders, decreased $8.9 billion, or by 1.
Leer más »