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The base salaries of Japanese workers jumped the most since 1993, an encouraging sign that the underlying pay trend may start to support consumption and enable the Bank of Japan to raise interest rates again.
By PA/TPN, in Asia, World, Economy · 13 Jul 2024, 16:31 · 1 Comments
Base pay increased 2.5 percent in May from a year ago, the fastest growth in three decades, and overtime pay rose by a record 2.7 percent, a firmer indication of improvement in the overall wage trend.
The figures may bolster confidence in a vicious cycle that emerges from wage and consumption growth that generates demand-led inflation.
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