Japan's Ministry of Internal Affairs and Communications inflation report

Japanese Firms Agree to 5.10% Pay Raise, Highest in 33 Years

Jul 3, 2024, 08:20 AM

On July 3, 2024, Japanese firms have agreed to raise monthly pay by an average of 5.10% this year, marking the highest increase in 33 years, according to the country's largest union group, Rengo. This final wage hike tally surpasses last year's increase of 3.58%, reflecting a significant boost in employee compensation across various companies in Japan.