PM Kishida encourages businesses to hike wages by more than 3%

Published by
Kyodo News

Prime Minister Fumio Kishida said Friday he hopes businesses that have recovered to pre-pandemic levels will raise employee wages by more than 3 percent next spring as he tries to realize a virtuous cycle of economic growth and redistribution of wealth. Kishida made the remarks during a meeting on putting his vision of a “new capitalism” into motion and was joined by the leaders of three major business lobbies as well as Rengo, Japan’s largest labor organization, formally called the Japanese Trade Union Confederation. “I am hoping for pay hikes that eclipse 3 percent, which will be appropriate…

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