Japan real wages rise in June for first time in 27 months

Nominal pay climbs at strongest pace in nearly three decades

Japanese companies agreed to raise monthly pay by 5.1% on average this year, the biggest gain in 33 years.

August 6, 2024 09:39 JST

TOKYO (Reuters) -- Japan's inflation-adjusted real wages rose in June for the first time in 27 months and nominal pay gained at the strongest pace in 27 years, led by higher bonuses as more firms increase wages.

The Bank of Japan last week raised interest rates to levels unseen in 15 years and unveiled a detailed plan to slow its massive bond buying. Broadening wage hikes and rising services prices were behind such moves.