Japan's wage growth stays at 0.1% as profits fall

Japan's wages grew 0.1 percent for a second month, signaling that consumer spending is unlikely to provide impetus for the slowing economy.

Monthly wages, including overtime and bonuses, rose to 273,175 yen ($2,761) from a year earlier, matching the slowest pace this year set in August, the Labor Ministry said in Tokyo yesterday.

Japan's economy is slowing as export-growth cools and the surge in the yen against the dollar cuts the value of overseas sales. Companies such as Sony Corp and Canon Inc have cut profit forecasts, worsening the prospects for wages and employment.