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Japanese wages fall 4.8 percent

Japanese wages fall 4.8 percent article image
Japanese wages fell 4.8 percent in July, according to newly released figures from Japan’s Labor Ministry. Special payments such as bonuses fell 11 percent from a year earlier, and total cash earnings stood at 365,922 yen, marking the 14th straight month of declines. Overtime pay fell by 16.5 percent, while cash earning plunged by a record 7.0 percent in June, from a year earlier. According to Bloomberg.com, the newly elected Democratic Party of Japan has promised to support households by pledging to increase the minimum wage.

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