Wages in Japan fell in December 2009
Economy July 6th, 2010
Wages in Japan during December fell because the company cut employee bonuses to become a signal that consumer spending can not encourage economic recovery.
Labor Department data released in Japan today said Tokyo monthly wages, including overtime, down 6.1% from last year to U.S. $ 5056 (549,259 yen). Decrease in salaries in Japan have higher than the December figure, which is 7%, in June.
Although Japan getting out of the worst recession since World War II, the benefits of the company in the country, ranging from All Nippon Airways Co. to Noritsu Koki Co., not yet recovered.
Before the announcement that data, BNP Paribas economist Azusa Kato Tokyo said the drop in unemployment is not enough to encourage domestic consumption during the business is still cutting labor wages.
“You have to consider improvements to overcome the employment decline in wages. During the employee’s income falls like this, households have not benefited from economic recovery, “said Kato.
Separately, the Japan Business Federation’s report last week showed a big company to cut winter bonuses by 15% to 755,628 yen. The sharpest decline since the survey of wages conducted occurred in 1959
