Japan real wages see sharpest drop since 2023
Real wages in Japan fell 2.9% in May — the steepest decline since 2023 and far worse than the expected 1.7% drop — as inflation continues to outpace nominal pay, which rose just 1%.
With elections in two weeks, PM Ishiba’s proposed cash handout struggles to gain support. All eyes now turn to the Bank of Japan’s rate decision on July 31.