Japan November wages data shows another deep fall ...Middle East

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Japan November wages data shows another deep fall
While nominal cash wages rose 0.2% y/y the real wage data is awful, down 3.0% y/ymore to comeLabour Cash Earnings +0.2% y/yexpected +1.5%, prior +1.5%Overtime Pay + 0.9% y/yprior -0.1%Inflation adjusted, i.e. real, wages -3.0% y/y***The Bank of Japan have repeatedly told us that they want to see wages rise inorder to boost household's purchasing power, and thus demand, and thus demand-pull inflation. They are waiting for the Spring wage negotiations to provide that boost to wages. USD/JPY up a little on the data, just a spread or two though: This article was written by Eamonn Sheridan at www.forexlive.com.

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