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Japan August wages revised up to +0.1 pct yr/yr

Thu Oct 16, 2008 10:34pm EDT

(For more on Japan's economy click [ID:nECONJP])

Global Markets

TOKYO, Oct 17 (Reuters) - Japanese wage earners' total cash earnings rose 0.1 percent in August from a year earlier, revised up from a preliminary reading of a 0.3 percent decline due mainly to higher-than-expected bonuses, government data showed on Friday.

But the annual rise in total cash earnings was the smallest in eight months, signalling that companies remained hesitant to increase wages in light of the shaky outlook for the global economy.

Cash earnings totaled 284,657 yen ($2,843), the data from the welfare ministry showed.

Overtime pay, a barometer of the strength of corporate activity, was revised to a 1.7 percent fall from a 1.8 percent decline.

Special payments in August, largely consisting of of summer bonuses that Japanese companies pay to workers, were revised up to a 3.7 percent fall from a preliminary 9.8 percent drop.

The following table shows revised data for monthly incomes in June: ---------------------------------------------------------

AUG AUG AUG JULY

(revised) (prelim) Payments (yen) yr/yr change (pct) Total cash earnings 284,657 yen +0.1 -0.3 +0.3

Monthly wage 269,325 yen +0.4 +0.3 +0.6

-Regular pay 250,355 yen +0.5 +0.4 +0.6

-Overtime pay 18,970 yen -1.7 -1.8 +0.8

-Special payments 15,332 yen -3.7 -9.8 -0.7 ---------------------------------------------------------

The ministry defines "workers" as 1) those who are employed for more than one month at a firm that employs more than five people, or 2) those who are employed on a daily basis or have less than a one-month contract but had worked more than 18 days during the two months before the survey was conducted at a firm that employs more than five people.

To view the full tables, see the welfare ministry's website: here (Reporting Kaori Kaneko)



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