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Japan's Nominal Wage Growth Accelerates to 3.5% in April

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Japan's average nominal wages, or total cash earnings, rose 3.5% year on year to 312,425 yen in April, the fastest growth since December 2024.

The latest print surpassed the consensus forecast of 3.2%, according to Trading Economics, and accelerated from the 3.1% rise in March.

Wage growth in Japan has now exceeded 3% ​for three consecutive months for the first time in over 34 years, according to the Ministry of Health, Labor and Welfare.

Special payments, mainly accounting for one-time bonus payments, jumped 7.4% in April to 13,329 yen.

Meanwhile, overtime pay rose 4.2% in April, also faster than the revised 3.1% increase in March.

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International

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