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Financial News: Japan Labor Cash Earnings Fall Unexpectedly In July

Japan Labor Cash Earnings Fall Unexpectedly In July

09/06/2017 - 02:16:00 (RTTNews)

(RTTNews) - Total labor cash earnings in Japan decreased for the first time in fourteen months in June, defying economists' forecast for a further rise, preliminary report from the Ministry of Health, Labor and Welfare showed Wednesday.

Gross earnings dropped 0.3 percent year-over-year in July, reversing 0.4 percent rise in May, which was revised from a 0.4 percent fall estimated previously.

Meanwhile, economists had expected a 0.5 percent rise for July.

Contractual gross earnings climbed 0.5 percent annually in July, while special cash earnings declined by 2.2 percent.

Real cash earnings declined 0.8 percent in July after a 0.1 percent slight fall in the preceding month.

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