Japan’s biggest labor union said COVID-19 won’t stop it demanding pay increases for its 7 million members, even after the worst year for corporate profits since the global financial crisis.
Rikio Kozu, head of the Japanese Trade Union Confederation known as Rengo, indicated in an interview Tuesday he’ll push for a 4% wage increase, including base pay, even though rising waves of the coronavirus are darkening the outlook for employers.
“If we say wage growth is impossible this time because of COVID, then we’ll be totally neglecting our responsibility to the economy,” said Kozu. “There is a serious concern” that Japan could fall back into deflation without pay gains, he said.