Financial News: Japan Labor Cash Earnings Rise 2.1%, Most In

Japan Labor Cash Earnings Rise 2.1%, Most In 10 Months

06/05/2024 - 06:04:00 (RTTNews)

(RTTNews) - Japan's total labor cash earnings continued to increase in April, and at the quickest pace in ten months, a report from the Ministry of Health, Labor, and Welfare showed on Wednesday.

Total earnings rose 2.1 percent year-over-year in April, faster than the revised 1.0 percent growth in March.

Further, this was the steepest increase since June 2023, when earnings had risen 2.3 percent.

Among industries, construction activities showed the highest rise in total cash earnings, by 5.7 percent. This was closely followed by a 5.3 percent gain in finance and insurance.

Contractual gross earnings grew 2.1 percent, and special cash earnings rebounded by 0.6 percent.

Meanwhile, real cash earnings dropped at a slower pace of 0.7 percent versus a 2.1 percent decline seen in March.

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