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Japan’s largest labor union to hunt pay hike

TOKYO, Oct. 19 (Xinhua) — Japan’s largest labor union mentioned on Thursday that it’s going to search a pay hike of no less than 5 % in annual wage negotiations subsequent spring, strengthening its stance from this yr to deal with persistent inflation.

In its primary coverage for 2024 wage negotiations, the Japanese Trade Union Confederation, also referred to as Rengo, determined to demand a pay hike of 5 % or extra, together with a base-pay rise of three % or extra.

In this spring’s wage talks, employees received a median elevate of three.58 %, exceeding 3 % for the primary time in 29 years, in response to the group.

Consumer costs proceed to rise in Japan, the place wage will increase haven’t saved up with the hovering prices of products and providers.

Wage negotiations will culminate in March when main firms determine on their responses to their labor unions’ requests.