The monthly wage data showed nominal total cash earnings dropped 2.1%

Overtime pay, a barometer of strength in corporate activity, saw its biggest decline since comparable data became available in January 2013, slumping 25.8% in May from a year earlier, down for a nine straight month. The monthly wage data showed nominal total cash earnings dropped 2.1% in the year to May, also seeing their largest fall since June 2015, following a revised 0.7% drop in April.

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Regular pay - or base salary, which makes up most of total cash earnings - was up, rising 0.2%, the data showed. One-off special payments shed 14.0% following a downwardly revised 6.4% gain in April. The ministry defines "workers" as 1) those who were employed for more than one month at a company that employed more than five people, or 2) those who were employed on a daily basis or had less than a one-month contract but had worked more than 18 days during the two months before the survey was conducted, at a company that employs more than five people.

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