Wages slid by slower 4.8% in July

Average wages at companies with at least five employees fell 4.8 percent in July from a year earlier to ¥365,922, the 14th straight month of decline, the government said Monday.

The margin of decline narrowed from a record 7.0 percent in June, but the latest data underscored that the income situation remains severe.

Summer bonuses and other special payments dropped 11.0 percent to ¥102,871, according to the Health, Labor and Welfare Ministry.

Scheduled pay, including basic salary, totaled ¥246,937, down 1.1 percent, while nonscheduled wages, such as overtime pay, dropped 16.5 percent to ¥16,114, the ministry said.

Overtime hours in the manufacturing sector, a key economic gauge, plunged 35.6 percent to 10.2 hours, falling for the 16th month in a row. The margin of fall was smaller than the 40.7 percent in June.