For this year¡¯s ²õ³ó³Ü²Ô³Ù¨ spring offensive, labor unions are demanding an average wage increase of 5.94%, largely in line with last year¡¯s levels, according to data from the Japanese Trade Union Confederation.
The ²õ³ó³Ü²Ô³Ù¨ pay negotiations are a much-watched event. They are critical for the Bank of Japan in determining its rate-increase path while Japan¡¯s real wages have been generally in decline for a number of years.
Japan¡¯s largest union federation, known as Rengo, reported on Thursday that as of March 2, the average wage increase demand from 2,508 member unions for this year¡¯s spring labor talks reached ?19,506 per month, or a 5.94% raise. The average pay raise demand last year was 6.09%.
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