🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.TOKYO -Top Japanese companies agreed to wage increases of an average 5.58% at annual labour talks that wrapped up in March, the Keidanren business lobby's preliminary data showed on Monday, representing the heftiest pay hike in 33 years.
The rising wages reflect Japan's chronic labour shortages, as well as efforts to help employees tackle rising consumer prices. The country's largest union group Rengo has said that Japanese firms had agreed to raise pay by 5.17% this year, the biggest rise under comparable data since 2013.