Japanese wages data for May
Labour Cash Earnings +0.7% y/y (biggest rise in 10 months)
- % y/y expected 0.4% y/y, prior 0.5%
Real cash Earnings +0.1% y/y
- expected -0.1%, prior 0.0%
That 'real' figure is still very lacklustre - at least it's a positive I suppose. The government (and BOJ) want wages to rise to help fuel consumption. Looks like more slow going though based on these results.
More (Headlines via Reuters):
- Overtime pay +0.7 pct yr/yr (biggest rise in 13 months)
- May regular pay posts biggest annual gain since March 2000 - govt
- Real wages post first annual gain in 5 months - govt
- Special payments, such as bonuses, dropped 1.6 percent in May on year
