Japan’s real wages have continued to decline, marking the 18th consecutive month of decrease in September. At the same time, consumer spending has also extended its ongoing decline, creating a worrisome situation for households. The rise in prices has been putting a strain on purchasing power, making it increasingly challenging for people to meet their daily expenses. As a result, labour groups are expected to intensify their demands for higher wage increases to counterbalance the impact of rising costs.
This data reflects the concerning state of the Japanese economy, as it grapples with persistently low wages and a slow recovery process. The prolonged decline in real wages not only affects the livelihoods of individuals and families but also has a profound impact on the overall economy. With consumer spending showing no signs of revival, the economy may face further challenges in its quest for stability and growth. Addressing this issue and finding ways to improve purchasing power will be crucial for Japan’s economic recovery.
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