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Financial News: Japan Labor Cash Earnings Fall In November

Japan Labor Cash Earnings Fall In November

01/08/2020 - 00:36:00 (RTTNews)

(RTTNews) - Japan total labor cash earnings fell for the first time in three months in November, a report from the Ministry of Health, Labor and Welfare showed on Wednesday.

Total cash earnings fell 0.2 percent year-on-year in November, after remaining unchanged in October. Economists had expected a 0.1 percent decrease.

Contractual gross earnings edged up 0.1 percent in November, while special cash earnings declined by 3.9 percent.

Real cash earnings fell 0.9 percent in November, following a revised 0.4 percent fall in the previous month. Economists had expected a 0.7 percent decline.

Tom Learmouth, an economist at Capital Economics said, overall wage growth was the weakest it has been in six months in November and the expected increase in the unemployment rate should ensure it will remain soft over the coming months.

The economist forecasts just a 0.2 percent rise in labor cash earnings this year.

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