Economy

Japan's Real Wages See Steepest Drop in 20 Months, Straining Consumption Recovery
July 10, 2025, 3:56 pm EDT
A core contradiction has emerged in Japan’s economy: inflation-adjusted real wages plummeted 2.9% year-on-year in May (following a -2.0% decline in April), marking the sharpest drop in 20 months and extending a five-month streak of contraction. This was driven by persistent inflation—running at 4% when excluding fresh food but including rent costs—outpacing nominal wage growth, which slowed drastically to 1.0% (to ¥300,000) from 2.0% in April, hitting a 14-month low.
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Economy

Japan's Real Wages See Steepest Drop in 20 Months, Straining Consumption Recovery