TOKYO, May 20 (Kyodo) - A survey of major Japanese firms showed they offered their highest monthly wage increases in 32 years at over 5 percent in the spring wage negotiations, as many sought to respond to elevated prices while trying to avoid brain drains, the country's biggest business lobby said Monday.
The initial tally of wage increases showed an average 5.58 percent rise, the highest since comparable data became available in 1992 and equivalent to 19,480 yen ($125) per month, according to the Japan Business Federation, also known as Keidanren.
The government led by Prime Minister Fumio Kishida has been stepping up pressure on companies to offer pay hikes to bring a positive cycle of pay and price increases, as the country seeks to finally move out of its chronic deflation. ...continue reading
