Japan’s major companies have concluded their annual labor talks with average wage hikes of 3.8% for the coming fiscal year, the largest raise in about three decades, trade union confederation Rengo said on Friday.
The preliminary survey of 805 unions affiliated with Rengo showed an average hike of ¥11,844 ($89) per month, according to the labor organization.
While changes in the way the survey is conducted make it difficult to compare with historical data before 2013, this is the first average pay hike of more than 3% since 1994, Rengo officials told a news conference.
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