TOKYO (Jiji Press) — Major Japanese companies agreed to raise monthly pay by 5.58%, or ¥19,480, on average in this year’s “shunto” spring labor-management wage talks, the first tally by the Japan Business Federation, or Keidanren, showed Monday.
The result far exceeded last year’s rise of 3.91%, or ¥13,110, and topped 4% for the first time since 1992, when the average rose 4.78%, or ¥12,893.
In this year’s shunto, the labor side demanded bigger pay increases than the previous year due to inflation and labor shortages.
A number of major companies fully accepted these requests. Some companies promised higher wage growth than demanded by labor unions.
The tally covered 89 companies in 16 sectors.
[Yomiuri](https://japannews.yomiuri.co.jp/business/economy/20240520-187197/)
by Wild_Ebb5097
4 comments
The labor-management wage talks also known as ‘Shunto,’ are very important for many people in Japan because they affect the wage increases of smaller companies without labor union as well.
It’s crazy how little attention this news is getting.
does this cover IT & services or just manufacturing? Will it generally see any wage raises nationally?
I love working for one of the FANG companies and seeing <2% increases each year.