Japan’s unions are demanding the biggest pay rise since the 1990s
Tokyo According to a nationwide survey on Friday, Japan’s unions are calling for the biggest wage increase since the 1990s. The move comes after the government and central bank again urged companies to increase workers’ wages to support the economy.
The survey of more than 2,000 unions showed that an average of 4.49 percent of salary increases would be demanded for this year. According to the Japanese trade union confederation JTUC, this is the first time again more than 4 percent. In 2022, the requirement was 2.97 percent. The results of the annual collective bargaining, also known as “Shunto”, are seen as a harbinger of wage developments in the country Japan. Bank of Japan officials said the outcome of wage increases is an important criterion for the determination of the future course in monetary policy.
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