Japan firms mark 3rd straight year of over 5% wage hikes: survey
TOKYO (Kyodo) -- Japanese firms agreed to wage hikes averaging 5.26 percent in this year's negotiations with labor unions, the third straight year for raises to surpass 5 percent, the Japanese Trade Union Confederation said Monday in a preliminary survey.
The average wage increase, down 0.20 percentage point from a year earlier, translates to a 17,687 yen ($110) rise per month, while small and medium-sized enterprises saw levels similar to last year, according to the confederation known as Rengo, Japan's largest labor union umbrella organization.
"Overall pay hikes have stayed in the 5 percent range for three consecutive years, marking a solid start, but this is where the real challenge begins," in ensuring sustained wage increases, said Rengo President Tomoko Yoshino at a press conference.
The data is based on answers from 1,100 labor unions as of Monday morning. Among them, 522 unions at small to midsize companies with fewer than 300 members were offered a wage rise of 5.05 percent, or 14,300 yen, while base pay hikes were clearly specified by 960 unions, averaging 13,013 yen, or 3.85 percent.
Meanwhile, nonregular workers have been offered hikes of 6.89 percent, or 84.51 yen per hour.
In its basic policy for this spring's wage talks, Rengo has set an overall wage hike target of 5 percent or more. The confederation has set a higher goal of 6 percent or more for unions representing small and medium-sized enterprises and around 7 percent for nonregular workers.
Member unions' firms last year increased wages by 16,356 yen, up 5.25 percent, according to the final tally for the year. Of the firms, small and midsize ones hiked wages by 12,361 yen, up 4.65 percent.
Rengo compiles the data seven times a year, with the final results to be released in early July. Figures tend to be higher in early rounds, reflecting more responses from larger companies.
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