Average cash earnings in Japan rose 3.5% year-on-year in April 2025, accelerating from an upwardly revised 3.1% increase in March and beating market expectations of 3.2%. This marked the 52nd consecutive month of nominal wage growth and the fastest pace since December 2024.
Wage gains were broad-based, with earnings increasing across all major sectors: construction (4.3%), manufacturing (4.5%), mining and quarrying (1.1%), utilities (4.5%), information and communications (5.6%), transport and postal services (7.2%), wholesale and retail trade (2.8%), finance and insurance (11.2%), real estate (1.2%), the food industry (1.8%), and education (2.4%).
