The Bank of Japan slightly upgraded its evaluation of income conditions for salaried workers while confirming the ongoing gradual economic recovery in a closely watched monthly report released Tuesday.
"Household income conditions remain severe, but moves (by firms) to increase regular and overtime payments continue, and the overall trend of decline in compensation for employees has stopped," the central bank said in its Monthly Report of Recent Economic and Financial Developments for August.
This represents a slight upgrading of its assessment of income conditions from the July report, in which the bank said "the decrease in the number of employees and in wages is slowing."