Japan’s unions are demanding the biggest pay rise since the 1990s

The survey of more than 2,000 unions showed that an average of 4.49 percent of salary increases would be demanded for this year. According to the Japanese trade union confederation JTUC, this is the first time again more than 4 percent. In 2022, the requirement was 2.97 percent. The results of the annual wage negotiations, also known as “Shunto”, are seen as a harbinger of wage developments in Japan. Bank of Japan officials said the outcome of wage increases is an important criterion for determining the future stance of monetary policy.