Japanese Prime Minister Fumio Kishida speaks out on wage pressures
- Wants pay increases of 3% or more in union negotiations next spring
Japan usually has a period each year (called shuntō) where wage negotiations take place between unions and employers, usually between February and March, but it has been a while since nothing significant has happened.
This is evident from the constant deflationary pressures that weigh on the Japanese economy over the years and despite Kishida’s remarks above, I don’t think things will be much different next spring.
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