Japan's workers are still losing purchasing power—real wages dropped for the tenth consecutive month in October, even as nominal pay figures looked optimistic on paper. The disconnect between headline wage growth and actual buying capacity highlights persistent inflation pressures eating into earnings. This trend matters beyond traditional finance: sustained erosion of real income could reshape consumer behavior and risk appetite across all asset classes, including digital assets. When households feel the squeeze month after month, discretionary spending takes a hit—and that includes speculative investments. Worth watching how this wage-inflation dynamic plays out in one of Asia's largest economies.