In a significant development for Japan's economy, major companies including Toyota, Honda, Nippon Steel, and ANA Holdings have granted their workers the largest pay rise in over three decades, with ANA's base wage increasing by ¥11,000, the most in 33 years. This move, highlighted by various sources including Kyodo and the Financial Times, marks a notable shift in Japan's wage dynamics. Japan's largest industrial union, UA Zensen, reported the biggest average pay raise offers by 231 firms since 2013, indicating a strong trend of wage hikes. Japan's Finance Minister Suzuki and Prime Minister Kishida have both acknowledged this trend, with Suzuki stating that Japan is no longer in deflation. The annual wage hikes have reached over 5%, with a specific figure of 5.28%, compared to 3.80% a year ago, marking the largest increase in more than 30 years. This development is seen as a potential catalyst for the Bank of Japan to begin raising interest rates, given the inflationary trend underscored by these wage increases.
This year’s spring wage negotiations involving major Japanese firms have seen robust pay increases, with the preliminary figure for the average hike standing at a 33-year high of 5.28%, according to Japan’s largest labor organization. https://t.co/oztwUf1MTP
Japan’s largest union group announced the biggest pay hike in more than 30 years. > .. now the odds are high for Japan’s economy to finally have the solid wage growth that has long been a missing piece for the BOJ. https://t.co/gICHVrlh8T
🔴 JAPAN'S PM KISHIDA: WAGE INCREASES ARE FLOWING STRONGLY.
🔴 JAPAN'S FY2024 PAY INCREASES LARGEST IN MORE THAN 30 YEARS.
Japan's Rengo: Annual Wage Hikes Hit 5.28% Vs 3.80% A Year Ago - Base Pay To Rise 3.70% Vs Initial 2.33% Last Year - Japan's FY 2024 Pay Increases Largest In More Than 30 Years
🔴 JAPAN'S RENGO: ANNUAL WAGE HIKES HIT 5.28% VS 3.80% A YEAR AGO.
🔴 JAPAN'S LARGEST TRADE UNION GROUP RENGO: PRELIMINARY DATA SHOWS AVERAGE WAGE HIKE OF 5.28% FOR FISCAL 2024.
🔴 JAPANESE UNIONS WIN AN OVER 5% WAGE HIKE - KYODO.
🔴 JAPAN'S FINANCE MINISTER SUZUKI: JAPAN NO LONGER IN DEFLATION.
JAPAN FINMIN SUZUKI: STRONG TREND OF WAGE HIKES TAKING PLACE NOW
Japanese FinMin Suzuki: Seeing Strong Pay Hike Move In Wage Talks - Think This Year's Wage Hikes To Outpace Last Year's
🔴 JAPAN'S FINANCE MINISTER SUZUKI NOTES STRONG TREND OF WAGE HIKES UNDERWAY
Japan's service-sector firms offer biggest pay rise since 2013, union says https://t.co/TYee9ZHs7L https://t.co/m0x3kjJohg
⚠️ JAPAN'S SERVICE-SECTOR FIRMS OFFER BIGGEST PAY RISE SINCE 2013, UNION SAYS Full Story → https://t.co/bsrFeKx5so Japan's largest industrial union UA Zensen said on Thursday that an average pay rise offered by 231 firms reached the biggest on record since 2013.
🔴 JAPAN'S LARGEST INDUSTRIAL UNION UA ZENSEN REPORTS BIGGEST AVERAGE PAY RAISE OFFERS BY 231 FIRMS SINCE 2013, YEAR ON YEAR.
Toyota, Honda, Nippon Steel and ANA Holdings granted Japanese workers their biggest pay rise in more than three decades, underlining an inflationary trend and bolstering the case for the Bank of Japan to begin raising interest rates. As the FT reports, galvanized by the sharp…
'Japanese companies including Honda, Nippon Steel and ANA Holdings have granted workers their biggest pay rise in more than three decades, underlining the inflationary trend and bolstering the case for the Bank of Japan to begin raising interest rates.' https://t.co/wUK7XPheOr
🔴 JAPAN'S PM KISHIDA: LOTS OF FIRMS REPORTED BIG INCREASES IN WAGE HIKES.
🔴 JAPAN PM ADVISER YATA: WAGE HIKES THIS YEAR ARE LIKELY TO EXCEED LAST YEAR'S, WE MUST CONTINUE PAY RISES NEXT YEAR AND THEREAFTER TO DEFEAT DEFLATION.
🔴 JAPANESE WORKERS SECURE BIGGEST PAY RISE IN THREE DECADES - FT. https://t.co/V0MFOyztxM
Japanese workers secure biggest pay rise in three decades https://t.co/5F5xd9KfOY
🔴 JAPAN'S ANA AGREES TO HIKE BASE WAGE BY ¥11,000, MOST IN 33 YRS - KYODO.