Hourly wages for parttime workers have posted year-on-year increases since 2003, and the rate of increase rose gradually through 2006. Looking forward, wages, including those for men, are expected to rise steadily as labor market conditions become increasingly tight. With the number of employees increasing steadily, household income has continued rising moderately and private consumption has been firm.
A more distinct upward momentum in private consumption is likely to emerge as the adverse effects from temporary factors -- such as last year's weather conditions (a long spell of rainy weather in early summer as well as the unseasonably warm winter weather) and consumers' reluctance to buy before the introduction of new products -- fade and wages resume their upward trend reflecting improved labor market conditions.