JAPAN MONTHLY WAGES FALL BY 1.3%, FIRST DECLINE SINCE 1990
Story Filed: Friday, January 29, 1999 12:59 AM EST
TOKYO, Jan 29, 1999 (Asia Pulse via COMTEX) -- Monthly cash wages paid out by business entities with at least five
employees averaged 366,465 yen per capita last year, the Labor Ministry reported Friday. This marks a nominal decrease
from 1997 of 1.3% and the first decline since 1990, when the current method of compiling statistics was introduced.
The figures reveal an unmistakable trend among business entities toward reducing overtime pay and switching from permanent
to temporary staff. In fact, fewer overtime hours was the biggest factor in the decrease.
Real wages - excluding the effects of inflation - fell 2.0%.
Monthly extra pay, including overtime and paid holidays, slipped 7.2% to 18,120 yen, while bonuses and other special
remuneration fell 5.1%.
Total working hours for the year slipped 20 hours to 1,871 hours. Overtime fell 8 hours overall, including a 25-hour decline
among employees of manufacturers.
Permanent and other general workers decreased in number by 0.7% to 34.60 million, the first ever decline. The number of
temporary and part-time workers increased 4.3% to 6.71 million.
(Nikkei)
Copyright ¸ 1999 Asia Pulse Pte Ltd
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Hmmmm. The decline in wages may be one signal to watch.
Jack |
