Wages in Japan continue to limp extremely slowly higher (for the third year) with real wages unchanged.
As Bloomberg reports, Japan’s tight labor market continues to push wages higher, especially the hourly pay per part-timer. Yet, full-timers are not getting much of a bump, even as the government continues to call for higher pay, partly because permanent workers themselves and their unions tend to value job security over getting a raise.
The April figures also indicate employers still prefer to offer bonuses, rather than making permanent hikes to bases wages.
This appears to have triggered some selling in USDJPY, running stops at 110...
Breaking down to its lowest level since the first round of the French election in April.
And breaking below the key 200-day moving-average at 110.39.
