Japanese workers¡¯ wages adjusted for inflation rose at the fastest pace since 2021, backing the case for the Bank of Japan?to consider a rate hike as soon as this month.
Real wages increased 1.9% from a year earlier in February, marking a second straight monthly gain, the labor ministry reported Wednesday. Economists had forecast a 1.3% increase. Nominal wages climbed 3.3%, beating the consensus estimate of 2.7%.
Base pay increased 3.3%, the largest gain in nearly 34 years, while a more stable measure that avoids sampling problems and excludes bonuses and overtime wages rose 3.1% for full-time workers, the biggest advance since comparable data became available in 2016.
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