Japan wage growth slows, backing BoJ policy case

Nominal cash earnings for workers rose 2.3% from the previous year, decelerating from a revised 2.9% clip in the previous month, the labour ministry said. — Bloomberg

Tokyo: Growth in Japanese workers’ wages unexpectedly slowed in June, indicating the labour market may be losing some steam and clouding prospects for the Bank of Japan’s (BoJ) sustainable inflation goal.

Nominal cash earnings for workers rose 2.3% from the previous year, decelerating from a revised 2.9% clip in the previous month, the labour ministry said yesterday.