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Japanese companies implement largest wage increase in over three decades

Japanese firms have agreed to an average wage increase of over 5%, the largest in 34 years, amid rising living costs and labor shortages. While major companies like Hitachi have met union demands, concerns remain about whether this will significantly boost consumer spending, especially among smaller firms. Prime Minister Shigeru Ishiba emphasized the need for higher pay, particularly for truckers, as negotiations continue into the spring.
Arab News Japan
United States Dollar JPN Tomoko Yoshino Shigeru Ishiba Nana Nagayama Show more
Finance & Economy, News Article
09:41 14.03.2025

Japanese companies implement largest wage increase in over three decades

Japanese firms have agreed to an average wage increase of over 5%, the largest in 34 years, amid rising living costs and labor shortages. While major companies like Hitachi have met union demands, concerns remain about whether this will significantly boost consumer spending, especially among smaller firms. Prime Minister Shigeru Ishiba emphasized the need for higher pay, particularly for truckers, as negotiations continue into the spring.
Arab News Japan
United States Dollar Hitachi, Ltd. JPN Tomoko Yoshino Shigeru Ishiba Nana Nagayama Show more
Business & Industry, News Article
09:41 14.03.2025
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