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Labor Cash Earnings (YoY)

Indicator released by the Ministry of Health, Labour and Welfare shows the average income, before taxes, per regular employee. It includes overtime pay and bonuses but it doesn't take into account earnings from holding financial assets nor capital gains. Higher income puts upward pressures over consumption, therefore an increasing trend in earnings is inflationary for the Japanese economy. A higher than expected reading is bullish for the yen, while below the market consensus the result is bearish.

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Next event - Today 23:30

3.1%

Forecast

2.3%

Actual

The typical/expected impact on JPY pairs is medium.

The consensus forecast for Labor Cash Earnings (YoY) is 2.3%. A higher value than forecast tends to be bullish for JPY/xxx pairs and bearish for xxx/JPY pairs.

Most recent - Sunday, 6 April 23:30

1.8%

Revised

1.8%

Forecast

3.1%

Actual

3.1%

Trading range

Forecast history

The most recent announced value for Labor Cash Earnings (YoY) was 3.1% against a forecast of 3.1%.

Past events

Date

Forecast

Actual

6 April 2025 23:30

3.1%

9 March 2025 23:30

3.2%

2.8%

4 February 2025 23:30

3.8%

4.8%

8 January 2025 23:30

2.7%

5 December 2024 23:30

2.6%

6 November 2024 23:30

2.8%

7 October 2024 23:30

3.1%

4 September 2024 23:30

3.1%

3.6%

5 August 2024 23:30

2.3%

4.5%

7 July 2024 23:30

2.1%

1.9%

4 June 2024 23:30

1.7%

2.1%

8 May 2024 23:30

0.6%

7 April 2024 23:30

1.8%

6 March 2024 23:30

5 February 2024 23:30

1.3%

9 January 2024 23:30

1.5%

0.2%

7 December 2023 23:30

1.5%

6 November 2023 23:30

1.2%

5 October 2023 23:30

1.5%

1.1%

7 September 2023 23:30

1.3%

7 August 2023 23:30

1.6%

2.3%

6 July 2023 23:30

0.7%

2.5%

5 June 2023 23:30

0.5%

8 May 2023 23:30

0.8%

6 April 2023 23:30

1.4%

1.1%

6 March 2023 23:30

2.8%

0.8%

6 February 2023 23:30

0.9%

4.8%

5 January 2023 23:30

1.5%

0.5%

5 December 2022 23:30

1.7%

1.8%

7 November 2022 23:30

2.1%

6 October 2022 23:30

2.5%

1.7%

5 September 2022 23:30

2.5%

1.8%

4 August 2022 23:30

2.1%

2.2%

4 July 2022 23:30

1.8%

6 June 2022 23:30

0.5%

1.7%

Economic context

Recent economic data has been strongly bullish for JPY. Other recent announcements which may affect the market's interpretation of the next Labor Cash Earnings (YoY) result:

		Previous	Latest
Unemployment Rate	Bearish change	2.4%	2.5%
Large Retailer Sales	Bullish change	2%	3%
Retail Trade (YoY)	Bullish change	1.3%	3.1%
Retail Trade s.a (MoM)	Bearish change	0.4%	-1.2%
Tokyo Consumer Price Index (YoY)	Bullish change	2.9%	3.5%
Tokyo CPI ex Food, Energy (YoY)	Bullish change	1.1%	2%
Tokyo CPI ex Fresh Food (YoY)	Bullish change	2.4%	3.4%

About Labor Cash Earnings (YoY)

Country:	Japan
Currency:	JPY
Source:	Ministry of Economy, Trade and Industry of Japan
Category:	Labor Market
Frequency:	Monthly

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	New Zealand		Unemployment Rate
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	United Kingdom		Employment Change
	United Kingdom		ILO Unemployment Rate (3M)
	United Kingdom		Claimant Count Change
	United States		Nonfarm Payrolls
	United States		ADP Employment Change
	United States		Average Hourly Earnings (MoM)
	United States		Average Hourly Earnings (YoY)
	Australia		Wage Price Index (QoQ)
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	Germany		Unemployment Change
	Germany		Unemployment Rate s.a.
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Labor Cash Earnings (YoY)

Next event - Today 23:30

Most recent - Sunday, 6 April 23:30

Trading range

Trading range after each Labor Cash Earnings (YoY) event

Forecast history

Past events

Economic context

About Labor Cash Earnings (YoY)

Related events