Workers at many of Japan's major companies have scored their biggest pay raises in decades as a result of annual spring negotiations. The country's largest labor union organization, Rengo, says the increases topped more than 5 percent on average.
Rengo officials announced the results of talks with 771 companies on Friday. They say the average monthly pay increase is 16,469 yen, or about 110 dollars. That is a gain of 5.28 percent, and the first in 33 years that was over 5 percent.
It was also well above last year's final calculation of 3.6 percent.
Many companies in the auto, electronics and steel industries agreed fully to union demands.
Negotiations with small and medium-sized enterprises are now set to get into full swing. The focus is on whether workers at these firms can also win significant pay raises.
Rengo officials announced the results of talks with 771 companies on Friday. They say the average monthly pay increase is 16,469 yen, or about 110 dollars. That is a gain of 5.28 percent, and the first in 33 years that was over 5 percent.
It was also well above last year's final calculation of 3.6 percent.
Many companies in the auto, electronics and steel industries agreed fully to union demands.
Negotiations with small and medium-sized enterprises are now set to get into full swing. The focus is on whether workers at these firms can also win significant pay raises.
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Summary
Japan's major companies granted substantial wage increases following annual spring negotiations, surpassing 5% on average according to Rengo. The average monthly raise is approximately 16,469 yen or $110 USD, marking the first increase over 5% in 33 years. Notably, many companies in auto,
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ID: ab412c0f-0797-443c-b2eb-ab2354b8037b
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20240315_31/
Date: March 15, 2024
Created: 2024/03/16 06:30
Updated: 2025/12/08 16:25
Last Read: 2024/03/16 15:01