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Japan Logs Fastest Wage Increase since 1994

Japan Logs Fastest Wage Increase since 1994

   Tokyo, March 28 (Jiji Press)--The average monthly pay of full-time workers in Japan in 2023 rose 2.1 pct from the previous year, the fastest growth since 2.6 pct marked in 1994, according to a government survey.
   The 2023 average stood at 318,300 yen, hitting a record high for the second consecutive year, the labor ministry's Basic Survey on Wage Structure showed Wednesday.
   The average rose 3.3 pct at businesses with 10 to 99 employees and 2.8 pct at those with 100 to 999 employees.
   Workers in their 20s and 60s saw faster wage growth than those in other age groups.
   Smaller companies seem to have improved labor conditions mainly for young employees and skilled elderly workers amid intensifying competition for human resources due to labor shortages.

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AFP-JIJI PRESS NEWS JOURNAL


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