Report
TOE Alert: Real Wages Fall almost 1% in 2015; Fourth Consecutive Fall
posted by Richard Katz on February 08, 2016
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Headline
As the economics news keeps disappointing, a growing number of commentaries from both the government and some of its co-thinkers in the private sector are blaming bad data. The inference is that the reality is not as bad as the data shows.
Abstract
Key points of this TOE Alert include:
- Real wages per worker fell 0.9% in 2015, marking the fourth decline in a row;
- One of the most disappointing omens for the future in the December report was the 0.8% fall in nominal bonuses, a harbinger for a disappointing shunto negotiations on overall wages;
- Some officials and economists keep blaming the data, rather than look at the reality
About Richard Katz
Richard Katz is Senior Fellow at the Carnegie Council for Ethics In International Affairs, the New York correspondent for Weekly Toyo Keizai, a leading Japanese business magazine, and formerly the editor of The Oriental Economist Report, a monthly newsletter on Japan.
Mr. Katz has taught about Japan’s economy as an Adjunct Associate Professor at the New York University Stern School of Business, and as a Visiting Lecturer in Economics at the State University of New York (SUNY) at Stony Brook.
Mr. Katz is the author of two books on Japan's economic travails and has just finished a third book on reviving entrepreeurship in Japan.
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