Japan’s Largest Labor Union to Seek Pay Hike
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Japan’s Largest Labor Union to Seek Pay Hike

Japan’s largest labor union said on Thursday that it will seek a pay hike of at least 5 percent in annual wage negotiations next spring, strengthening its stance from this year to cope with persistent inflation.

In its basic policy for 2024 wage negotiations, the Japanese Trade Union Confederation, also known as Rengo, decided to demand a pay hike of 5 percent or more, including a base-pay rise of 3 percent or more.

In this spring’s wage talks, workers won an average raise of 3.58 percent, exceeding 3 percent for the first time in 29 years, according to the organization.

Consumer prices continue to rise in Japan, where wage increases have not kept up with the soaring costs of goods and services.

Wage negotiations will culminate in March when major companies decide on their responses to their labor unions’ requests.

Source : XinHua