Major businesses in Japan agreed to hefty pay raises during this year's spring wage talks. The latest survey shows their average pay hike topped 5 percent for the first time in 33 years.

The Japan Business Federation, or Keidanren, surveyed large companies with at least 500 employees.
It announced the results for 135 firms on Monday.

The average monthly raise was slightly above 19,000 yen, or about 130 dollars, combining a seniority-based increase and a base-pay hike.

The rate of wage increase in yen terms was 5.58 percent. That exceeded last year's increase of 3.99 percent. The last time the figure went over the 5 percent mark was in 1991.
Among 16 sectors that allow year-on-year comparison, 15 saw a rise. They include the steel industry, the machinery and metals sector, and shipbuilding.

A senior Keidanren official says the average pay hike has reached a very high level. He says last year marked a turning point, and that businesses gave even bigger raises this year.

The official says it's important for this trend to continue next year and lead to structurally sustainable pay increases.