Japan's Union Federation Rengo Says Workers Got Record Wage Hikes

Japanese companies have agreed to implement a substantial pay raise of 5.25% this year, marking the largest increase in wages since 2013, according to Japan's largest union group Rengo, as reported by Tetsushi Kajimoto for Reuters.

On average, this increase corresponds to a rise of 16,379 yen per month.

The announcement of these wage negotiations outcomes is done in several stages, with blue-chip firms being the first to conclude talks in mid-March. The finalized wage hike of 5.25% remains consistent with a preliminary figure reported a week earlier, indicating the robustness of wage growth.

On average, this increase corresponds to a rise of 16,379 yen per month.

While the average growth of pay hikes may decrease as more small firms announce their agreements towards April-June, further results are anticipated to be released on April 4 and April 18.

Senior Rengo official Akira Nidaira stated that the trend of wage hikes will be examined in a meeting scheduled for April 4.

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