Okinawans’ income up, still lowest in nation
The Cabinet Office of the Government of Japan has published its annual report on the prefectural accounts for the fiscal year 2013. The report indicates the average income of people in all prefectures of Japan, except Kagawa and Kumamoto, increased from the previous year.
The Cabinet Office’s analysis of the data attributes the upward trend to the positive impact of the deprecation of yen. The depreciation occurred because of the large-scale monetary easing by the Bank of Japan that stimulated corporate earnings and increased stock prices.
Nationwide, the average income in FY2013 was ¥3,065,000, which is 2.8% up from 2012. Residents of Tokyo enjoyed the nation’s highest average incomes of ¥4,508,000, followed by Aichi with ¥3,579,000, Shizuoka with ¥3,326,000 and Shiga Prefecture at ¥3,273,000. The ranking was unchanged from 2012. On the other end of the scale, people’s incomes in Okinawa Prefecture remain the lowest in the nation, although the average rose 4.1% from the previous year.
The regional income disparity went down slightly from the previous fiscal year, and was at its smallest since 2001.