Japan firms offer biggest pay hikes in 30 years, wage growth broadens

TOKYO -Japanese firms offered the biggest pay hikes in three decades at this year's negotiations with workers, the country's largest trade union group said on Wednesday, a development economists say will help revive anemic consumer demand. A survey conducted by Rengo, Japan's umbrella trade union group, showed pay hikes first reported by unions at the largest employers in March were now broadening to workers at small and medium enterprises (SMEs), or those with unions of 300 or fewer members. The final survey of 5,272 unions affiliated with Rengo showed an average pay hike of 3.58 percent, or 10,560 yen ($73.04) per month, the biggest increase since 3.9 percent seen in 1993. Am...Keep on reading: Japan firms offer biggest pay hikes in 30 years, wage growth broadens

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