Japan's real wages drop for 12th straight month in March

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Japan's real wages drop for 12th straight month in March

STORY: Japan's real wages drop for 12th straight month in March DATELINE: May 9, 2023 LENGTH: 00:00:51 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street views of Tokyo STORYLINE: Real wages in Japan declined for a 12th straight month in March from a year earlier, leading to households spending less as a result of rising inflation, the government said in a report on Tuesday. According to the Ministry of Health, Labor and Welfare, nominal wages including base and overtime pay rose 0.8 percent to an average of 291,081 yen (2,100 U.S. dollars). The 0.8 percent increase in yen terms marks the 15th consecutive month of increase, although the monthly rise has remained below the 1 percent threshold for a third straight month, the data showed. The government said in a separate report Tuesday that household spending decreased in March from a year earlier. The Ministry of Internal Affairs and Communications said household spending in the reporting period fell 1.9 percent from a year ear

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