Japan Companies Agree 5.01% Wage Hike for 3rd Straight Year Above 5%

3 articles · Updated · Japan Today · Jul 4

Japanese companies settled spring wage talks at an average 5.01% increase, or 16,400 yen a month, based on final results from 5,368 unions compiled by Rengo.
That marked a third consecutive year of pay deals above 5%, though the pace slowed from last year's 5.25% average increase.
Small and midsize firms raised wages 4.69%, or 12,866 yen, trailing larger companies even as Rengo said they had done what they could.
Real wages rose for a fourth straight month in April, offering some support to still-sluggish consumer spending after pay growth had long lagged inflation.
Oil and raw material costs linked to the Middle East conflict now threaten to rekindle inflation, testing whether nominal pay gains translate into lasting real income growth.