This is primarily attributed to the decrease in the number of non-regular employees, with the younger generations and women exhibiting significant changes. Yet, for women aged 25-64, there was an increase in the number of regular employees, despite the extent of the decrease in the number of non-regular employees.
As can be seen in the right panel of Chart 6, the year-onyear rate of change in nominal wages has been negative since April 2020. In particular, it saw a larger decline again at the end of 2020, primarily reflecting a decrease in special cash earnings; how this will affect future consumption is a matter of concern.