Major Japan firms dish out 2.53 percent wage hike on average during spring labor talks

JIJI

Major companies agreed to raise monthly employee pay by ¥8,539, or 2.53 percent, on average for unionized workers in this year’s shunto spring labor-management talks, a survey showed Tuesday.

The average pay hike topped 2 percent for five years in a row and exceeded ¥8,000 for the first time since 2015, the Japan Business Federation (Keidanren) said in its final shunto tally.

But the average hike fell short of Prime Minister Shinzo Abe’s call for 3 percent or more.

The average pay hike in the hotel industry came to 3.3 percent, the highest among the 17 sectors surveyed, followed by the construction industry, with 3.21 percent, and the automotive sector, with 2.69 percent.

The tally covered 116 companies. Subject to the survey are companies with 500 or more employees listed on the first section of the Tokyo Stock Exchange.