TOKYO — Japanese companies have agreed to raise wages by more than 5% for a second year in a row this year, the country’s largest union umbrella group said on Friday. The 5.46% preliminary reading from Rengo, a 7 million member-strong group, tops both last year’s preliminary and final figures and is likely to mark the […] The post Japanese firms agree to 5.46% wage hike, higher than last year appeared first on Interaksyon.
Japanese firms agreed to a 5.46% wage increase, exceeding last year's hike and potentially marking a 33-year high. Rengo, a large union group, reported the preliminary figure, driven by the need to offset rising living costs. While unions sought higher increases, economists remain cautious about the impact on consumer spending due to inflation.
