Japan's trade unions are demanding the biggest wage hike in more than two decades at their spring pay negotiations, a national labour tally showed on Friday, as the government and central bank urge firms to raise workers' wages to support the economy.
showed the average union demand during this year's annual labour talks, called "shunto" in Japanese, was much larger than 2022's 2.97%.
JTUC, commonly known as "Rengo", is the largest labour organisation in the country representing about seven million workers. Although those working at smaller businesses, on temporary terms or without union membership tend to receive a much smaller,Bank of Japan officials havethe outcome of the wage hikes is an important criterion to determine the future course of its ultra-loose monetary policy.
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