Report Cover
Headline
Some analysts look at the evidence behind the April headline numbers, and see a new trend of wage acceleration. Others are more skeptical. We’ve been in the skeptical camp, but prefer to wait a few more months before making a judgment.
Abstract
While April may have been cruel to Japan in many regards (see Alert of May 29), it was very kind on wage front. Nominal wages per worker were up 0.9% from last April—three times as much as the consensus forecast.