Japan plans another record hike in minimum wage
TOKYO : A Japanese labour ministry panel plans to recommend an increase of about 6% in the national average minimum wage for this fiscal year, for the biggest such jump since at least 2002, the Kyodo News agency said today.
The proposed hike, to about ¥1,118 (US$7.43) per hour, would exceed last year's increase of 5% and be the largest since the current system began, the agency added, without citing sources.
Japanese Prime Minister Shigeru Ishiba's administration set a target last year of raising the average minimum wage by 42% to ¥1,500 per hour by the end of the decade.
Raising the legally binding minimum wage would boost households' purchasing power, but squeeze profits at small firms that struggle to make ends meet.
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