Japan's real wages continue to fall

The latest government statistics show inflation is continuing to eat into people's wages in Japan.

The labor ministry says inflation-adjusted pay declined by 2.5 percent in March compared to the same month last year. That was the 24th straight-month of decline and the longest such period since comparable data became available in 1991.

The figures are from a monthly survey of over 30,000 businesses with at least five employees.

The average nominal wage for March rose by 0.6 percent to more than 301,000 yen, or roughly 1,940 dollars. That marks 27 straight months of increase.

The ministry says the number of employers in 2024 giving their workers raises is expected to increase from last year. The trend reflects the outcome of annual negotiations between major companies and labor unions.