Wages and labour costs · Japan
Japan Overtime Pay YoY
The Japan Overtime Pay YoY measures how fast pay, or the total cost of employing people, is rising in Japan.
- 重要性
- Medium
- 发布时间
- Monthly
- 下次发布
- 货币
- JPY · Japanese yen
- 中央银行
- The Bank of Japan
最新数据
最新一期（SEP）于 2026-11-05 公布，数值为 3.6%。 低于上次的 4.9%（已修正）。
最近 12 次公布中介于 0.9% 至 5.2%，平均 2.8%。
| 发布时间 | 期限 | 实际值 | 预期值 | 前值 |
|---|---|---|---|---|
| 5 Nov 2026 | SEP | 3.6% | – | 4.9% ® |
| 6 Oct 2026 | AUG | 5.2% | – | 4.5% ® |
| 7 Sep 2026 | JUL | 3.1% | 3.9% | 3.4% ® |
| 4 Aug 2026 | JUN | 2.8% | – | 2.8% ® |
| 6 Jul 2026 | MAY | 2.9% | – | 4.8% ® |
| 4 Jun 2026 | APR | 4.2% | 3.2% | 3.1% ® |
| 7 May 2026 | MAR | 1.9% | – | 3.4% ® |
| 7 Apr 2026 | FEB | 3.3% | – | 3.3% |
| 8 Mar 2026 | JAN | 3.3% | – | 1.5% ® |
| 8 Feb 2026 | DEC | 0.9% | – | 1.2% |
| 7 Jan 2026 | NOV | 1.2% | – | 2.1% ® |
| 7 Dec 2025 | OCT | 1.5% | – | 1% ® |
为何重要
Wages are the largest cost for service businesses, so wage growth well above productivity growth turns into lasting inflation. Central banks watch it to judge whether inflation will return to target; strong wage growth tends to keep the Bank of Japan hawkish.
计算方法
Pay data come from employer surveys, tax records or collective agreements; the release usually shows the change from a year earlier. Labour cost indexes include employers' social contributions and benefits.
Wage growth (yoy) = average pay ÷ average pay a year ago − 1
Real wage growth ≈ wage growth − inflation变化意味着什么
- Wage growth of about 3–3.5% is roughly consistent with 2% inflation when productivity grows about 1%.
- Compositional effects (low-paid workers losing jobs) can lift the average misleadingly.
高于预期：A higher figure than expected makes the Bank of Japan more likely to keep rates high or raise them: it tends to support the Japanese yen and push bond yields up, and is often a weight on stocks.
低于预期：A lower figure than expected gives the Bank of Japan room to cut or hold rates lower: the Japanese yen tends to soften and bond yields to fall.
简史
The link between wages and inflation was described by A. W. Phillips in 1958 (the Phillips curve); it has weakened and strengthened over the decades but remains central to central-bank thinking.
问题
What is the Japan Overtime Pay YoY?
The Japan Overtime Pay YoY measures how fast pay, or the total cost of employing people, is rising in Japan.
What was the latest Japan Overtime Pay YoY?
3.6% for SEP, published on 5 November 2026.
When is the next Japan Overtime Pay YoY?
On Monday 7 December 2026 at 23:30 UTC.
仅供学习参考，不构成投资建议。数据为我们日历记录的已发布结果；所述市场反应为典型情况，并无保证。