Japan HR news·Monday 9 November 2026

Real wages rise 2.3% in September as bonuses jump; graduate turnover falls to 31.2%

Total cash earnings rose 4.6% in September, ahead of 2.2% inflation. Three-year turnover among university graduates fell to 31.2%, while Seibu Shinkin lifts its starting salary to ¥300,000.

Pay

Real wages up 2.3% in September; total cash earnings rise 4.6% to ¥311,409

MHLW's preliminary Monthly Labour Survey for September shows average total cash earnings of ¥311,409, up 4.6% on a year earlier. Scheduled earnings rose 3.6% and special payments 32.6%. Real earnings rose 2.3% against headline inflation of 2.2%. Part-timers' hourly scheduled pay was ¥1,463, up 5.4%.

Why it matters: Bonus payments drove much of the gain, while base pay rose 3.7%. Compare your own base-pay increase with the roughly 3.6% market figure when setting next year's budget.

Source: Nihon no JinjibuJapanese · MHLWJapanese

Data

Three-year turnover among university graduates falls to 31.2%, down 2.6 points

MHLW figures for people who graduated in March 2023 show 31.2% of university graduates left their first employer within three years, down from 33.8% for the previous cohort. It is the second straight fall from the 34.9% peak for the FY2021 cohort. Turnover fell in every industry.

Why it matters: Early-career retention is improving across the market, so use it as a benchmark. If your three-year attrition among graduates is well above 31%, review onboarding and first-job pay.

Source: Rodo ShimbunJapanese

Hiring and jobs

Seibu Shinkin Bank lifts graduate starting pay to ¥300,000, a first for a credit union

Seibu Shinkin Bank of Tokyo will pay university graduates joining next spring ¥300,000 a month in basic pay, excluding fixed overtime and allowances. It says this is the first credit union to reach that level. The bank hires about 100 people a year and wants candidates with a clear career outlook.

Why it matters: Finance has long paid low starting salaries and made it up later in careers. Local financial employers competing for graduates may now be pushed to follow.

Source: Rodo ShimbunJapanese

Hiring and jobs

Kanagawa: 46.9% of March 2027 high school graduates hold job offers, down 6.7 points

Kanagawa Labour Bureau reports that 46.9% of students due to graduate from high school in March 2027 had received a job offer at the end of September, 6.7 points below a year earlier. The bureau said it is too early to judge the trend.

Why it matters: Selection began in September, so the gap may close. Employers hiring school leavers should keep recruiting rather than assume weaker demand.

Source: Rodo ShimbunJapanese

Compiled each weekday morning with AI assistance from the reports linked under each story; summaries are ours, the reporting is theirs. Check the source before acting on anything here. Corrections: editor@hardestmarket.com.