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Japan Average Wages Rise - Nasdaq.com

The nation has been mired in deflation and economic stagnation since the economic bubble burst around 1990. After adjustment for inflation, however, wages web site actually go to website declined 1.5% on year, meaning that wage increases are not keeping up with prices, the labor ministry figures released Tuesday showed. Still, the size of decline was the smallest since March, reflecting both nominal wage gains and lower inflation as a result of recent sharp falls in oil prices . Last year real wages declined an average 2.5%, weakening consumption homepage and helping push the economy into a brief recession. Increases in nominal wages were outweighed by higher consumer prices following the first sales tax increase in 17 years in April. Prime Minister Shinzo Abe hopes his economic revival plan, known as Abenomics, and sustained pay increases will eventually restore consumer confidence and reignite Japan's private consumption, putting Japan on a path of self- sustaining economic growth.
Read more: http://www.nasdaq.com/article/japan-average-wages-rise-20150302-01774

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