Japan’s real wages rose 1.6% year-over-year in June
Japan’s average cash earnings increased 3.4% year-over-year in June, driven by a 3.4% rise in base salaries.
The growth in regular pay suggests underlying wage momentum is broadening beyond one-off special payments.
The pickup in wages supports the case for the Bank of Japan to continue normalizing policy, with the current trend expected to continue through fiscal 2027.