The Abenomics Devastation: Japanese Real Wages Decline For Record 16 Consecutive Months

Tuesday, December 2, 2014
By Paul Martin

by Tyler Durden

Those seeking proof that Abenomics is working are advised to look elsewhere.

Overnight Japan released its latest, October, wage data, which showed that total cash wages rose 0.5% yoy, slightly slowing from the 0.7% growth recorded in September. As the chart below shows, Nominal wages have been slowing down from the peak in July when the figure was boosted to +2.4% on summer bonus payments. Overtime pay grew +0.4% yoy (September: +1.9%), slowing from the peak recorded in April (+6.0%) on a slowdown in economic activities. The figure contributed to overall wages by only +0.03 pp.

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