Abe urges firms to raise wages by 3% or more
Tokyo
JAPANESE Prime Minister Shinzo Abe on Tuesday urged companies to raise wages by 3 per cent or more next year, keeping up pressure on firms to spend their huge cash pile on wages to broaden the benefits of his "Abenomics" stimulus policies.
"We must sustain and strengthen Japan's positive economic cycle next year to achieve our long-standing goal of beating deflation," he said in a speech at a meeting of Japan's biggest business lobby, Keidanren. "For that, I'd like to ask companies to raise wages by 3 per cent or higher next spring," he added.
Wages at big companies have been rising slightly more than 2 per cent each year since 2014, governme…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Bank of Korea chief signals readiness to deal with volatile currency moves
Banks told to anticipate risks from using AI, machine learning
Earthquake jolts southern Japan’s Ehime, Kochi prefectures
Climate impacts set to cut 2050 global GPD by nearly a fifth
G7 foreign ministers meet in Italy amid calls for sanctions on Iran
IMF calls for fiscal restraint in year with most elections ever