Recent price increases have outpaced wage growth, leading to a three-month consecutive decrease in real wages for workers. Real wages in the second quarter of 2023 decreased by 0.8% compared to the same period last year, as the nominal wage growth rate (2.1%) was lower than the consumer price index increase rate (3.0%). The number of business employees increased by 1.1% compared to the same month last year, with manufacturing and construction industries showing continued growth. However, the Ministry of Labor judged that it is too early to view the increase in the construction industry as a sign of recovery. On the other hand, the number of employees in wholesale and retail trade and arts, sports, and leisure services decreased.
