Japan's real wages in May fall 2.9%, sharpest drop in nearly 2 years

Japan's real wages fell 2.9 percent in May from a year earlier, marking the fifth consecutive monthly decline and the sharpest drop in nearly two years, as pay growth continued to lag behind persistent inflation, government data showed Monday.The latest decline in real wages -- a barometer of consumer purchasing power -- accelerated from a revised 2.0 percent fall in April and marked the largest drop since September 2023 due largely to lower bonuses, the Ministry of Health, Labor and Welfare said.Nominal wages, or the average total monthly cash earnings per worker including base and overtim…READ FULL ARTICLE