Friday, May 3, 2013

March - Bonuses Up 8.2% YOY

Bonuses and other special payments for Japanese workers increased 8.2 percent from a year earlier in March, the Health, Labor and Welfare Ministry said in a preliminary report Wednesday.

Special payments per worker stood at 15,046 yen, rising for the third straight month, the ministry said.

The rise apparently reflects an increase in the number of companies that paid extra bonuses following recent gains in stock prices, a ministry official said.

Special allowances paid by financial and insurance companies averaged 42,035 yen per worker, jumping 82.3 percent from a year before.

Workers' total wages, combining basic wages and special payments, declined 0.6 percent to 275,746 yen on average, falling for two consecutive months. The fall came as March had one more Sunday this year than last year and working hours fell as a result, the ministry official said.

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