Japan’s Wage Cycle Keeps Improving as Real Pay Rises for Sixth Month

Japan’s wage growth remained robust in June, reinforcing the Bank of Japan’s case for continued policy normalization. Real wages rose 1.6% y/y, matching May’s upwardly revised gain and marking a sixth consecutive monthly increase, the longest positive streak since 2021. More notably, nominal cash earnings climbed 3.4%, extending a run of monthly increases above 3% […]

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