Japan’s nominal wages rose more than expected in a positive sign for the domestic economy just as external headwinds related to trade begin to cloud the outlook.
Nominal cash earnings for workers climbed 3.1% in February from a year earlier, with the pace accelerating from a revised 1.8% in January, the labor ministry said Monday. The reading beat economists’ estimate of 3%.
A more stable gauge that generally irons out sampling inconsistencies showed base pay for full-time workers increased by 1.9%, slowing below 2% for the first time in 18 months. Some components of the gauge were reshuffled this time.
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