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Japan's real wages in Nov. revised up, log 1st rise in 4 months
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TOKYO (Kyodo) -- Japan's real wages rose 0.5 percent in November from a year earlier, revised upward from an initially reported 0.3 percent decline and marking the first increase in four months, government data showed Friday.
The unusually large revision was attributed to a sharp increase in winter bonuses and other special payments, which jumped 24.9 percent from a year earlier, compared with a preliminary estimate of a 7.9 percent rise, according to the Ministry of Health, Labor and Welfare.
The adjustment was based on additional data submitted after the release of the initial figures.
"While bonuses are typically reflected in December data, the additional information received after the preliminary figures show a stronger impact already in November," a ministry official said.
Real wages fell for a record 26 consecutive months through May last year, affected by inflation resulting from a weak yen and high crude oil prices.
They turned positive in the following two months but started declining again from August.
Nominal wages, or the average total monthly cash earnings per worker including base and overtime pay, rose 3.9 percent to 308,486 yen ($1,975), revised up from a 3.0 percent rise in the preliminary report.
The figure exceeded the 3.4 percent rise in the consumer price index used to calculate real wages for the reporting month, resulting in positive real wage growth.
The data also showed that average base pay and other scheduled wages rose 2.5 percent to 264,618 yen, compared with the preliminary estimate of a 2.7 percent rise. Overtime pay and other nonscheduled wages gained 1.4 percent to 20,613 yen, down from an earlier reported 1.6 percent increase.
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