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Financial News: Japan Labor Cash Earnings Rise Most In 11

Japan Labor Cash Earnings Rise Most In 11 Months

07/08/2024 - 08:01:00 (RTTNews)

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

Total earnings rose 1.9 percent year-over-year in May, faster than the revised 1.6 percent growth in April.

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 7.2 percent. This was followed by a 5.7 percent gain in transport and postal activities.

Contractual gross earnings grew by 2.5 percent, while special cash earnings fell by 8.5 percent.

Real cash earnings dropped at a slightly faster pace of 1.4 percent versus a 1.2 percent decline seen in April.

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