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TOKYO (Jiji Press) — Major Japanese companies agreed to raise monthly pay by 5.58%, or ¥19,480, on average in this year’s “shunto” spring labor-management wage talks, the first tally by the Japan Business Federation, or Keidanren, showed Monday.
The result far exceeded last year’s rise of 3.91%, or ¥13,110, and topped 4% for the first time since 1992, when the average rose 4.78%, or ¥12,893.
In this year’s shunto, the labor side demanded bigger pay increases than the previous year due to inflation and labor shortages.
A number of major companies fully accepted these requests. Some companies promised higher wage growth than demanded by labor unions.
