Japan’s wages rose at the slowest pace in three months with real pay extending its falling streak, highlighting a challenge for newly elected ruling party leader Sanae Takaichi who has pledged to address the increase in living costs.
Nominal wages increased 1.5% in August from a year earlier, decelerating from 3.4% in the previous month, according to a report by the Ministry of Health, Labour and Welfare on Wednesday. That was below economist expectations. Real cash earnings dropped 1.4%, marking an eighth month of declines and also coming in weaker than expected.