Special cash earnings in Japan down 23.2% in November

13:24, December 28, 2009      

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Statistics released by the Ministry of Health Labor and Welfare on Monday showed that special cash earnings in Japan were down 23.2 percent year on year in November, as companies withheld money from employees at the start of the nation's traditional bonus season.

The total hours worked across the nation also fell by 1 percent, as nonscheduled work hours dropped 9.5 percent, with the average worker clocking in an additional 9.7 hours in the month.

Real cash earnings also fell by 2.8 percent, while the real average wage declined by 0.6 percent. Real cash earnings now stand at 277,261 yen, down for the 18th consecutive month.

Workers at manufacturing firms saw the number of nonscheduled hours worked fall by 9 percent, while in wholesale and retail trade, the number of nonscheduled hours dropped by 15.7 percent. Workers in other areas of the tertiary sector saw their overtime fall by 10 percent.

Special cash earnings in wholesale, retail and trade companies with more than 30 employees were particularly badly hit, suffering a fall of 41.7 percent, meanwhile the same figures in the manufacturing sector fell by 37.9 percent.

The number of people employed full time also fell by 1.1 percent to 31.89 million, while the number of part-timers increased by 1.7 percent to 12.14 million.

The figures are bad news for Japan, which is currently trying to maintain a tentative recovery while it remains threatened by deflation and poor sentiment in households. Earlier in the month, the Bank of Japan (BOJ) pumped 10 trillion yen (109 billion U.S. dollars) into the economy to encourage lending, while the government of the Democratic Party of Japan (DPJ) announced a 7.2 trillion yen (80 billion dollar) stimulus package in the hope of staving off economic decline.

There was also good news for Japan on Monday, with statistics released by the Ministry of Economy, Trade and Industry showing that industrial production had rose in November for the ninth consecutive month by 2.6 percent.

Source: Xinhua
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