Japan real wages down 1.4% in May, 26th monthly fall despite hikes

Japan's real wages in May fell 1.4 percent from a year earlier, declining for a record 26th straight month, as the sharpest base wage growth in 31 years was offset by inflation, government figures showed Monday.The drop in May was larger than a revised 1.2 percent fall in April, with higher material costs and a weakening yen pushing up import costs, data from the Ministry of Health, Labor and Welfare showed.The downward pressure continued even as the Japanese Trade Union Confederation said last Wednesday that Japanese companies agreed to raise wages by an average of 5.1 percent at this year…READ FULL ARTICLE