Japan’s annual springtime ‘shunto’ wage negotiations between employers and union have resulted in salary increases for the third year in a row in the country’s large companies, but also in the medium sized and small businesses. As compared with previous years the larger industrial names have raised wages only modestly against a global economic backdrop that since the start of the year is increasingly sluggish.
On Wednesday 20 April, and following a long period of negotiations, Rengo, the Japanese Confederation of Trade Unions announced that the ‘shunto’ 2016 wage rise would be on average 1,478 Yen (€12) per month. This deal was secured after the nation’s large businesses announced their 2016 budget policies and represents about a 40% fall as compared with the 2015 negotiation round, and this despite repeated calls by Prime Minister Shinzo Abe to big business to help reverse deflationary pressures...
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