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Bloomberg
Pay for Japanese workers showed the strongest gains this year in August, according to data from the labour ministry. It’s welcome news for economic policy makers in Tokyo who are struggling to spur sustained inflation in the world’s third-largest economy.
Monthly cash earnings increased 0.9 percent from a year earlier, the largest amount in more than a year, and higher than the 0.5 percent estimated by economists. That marked a rebound from a 0.6 percent drop in July, when companies cut bonus payments. Cash earnings adjusted for inflation grew 0.1 percent after a 1.1 percent drop the previous month. Japan is in need of pay increases to boost both inflation and household consumption. The labour market is the tightest it has been in decades.