Japanese firms agreed to wage increases averaging 5.46 percent in this year’s negotiations with labor unions, the Japanese Trade Union Confederation said Friday in a preliminary survey, the second consecutive year for raises to exceed 5 percent.
The average wage hike, 0.18 percentage point higher from last year which saw the sharpest climb since 1991, translates to a 17,828 yen ($120) rise per month, according to the confederation known as Rengo, the largest labor union umbrella organization in Japan.
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