Pay Hikes at Major Japan Firms Average 2.46 Pct

Economy

Tokyo, April 23 (Jiji Press)--Major Japanese companies have agreed to raise monthly salaries by 2.46 pct, or 8,310 yen, on average so far during this year's "shunto" labor-management negotiations, according to the initial tally by the Japan Business Federation, or Keidanren, released Tuesday.

The average growth topped 2 pct for the sixth consecutive year. Such continuing high growth was last seen between 1994 and 1999.

"The momentum and trend of increasing pay is continuing," a Keidanren official said.

The 2019 initial survey covered 60 member companies of Keidanren. The federation is scheduled to release its final survey results in June.

The construction industry enjoyed the largest rise, at 2.90 pct, followed by the auto industry, at 2.74 pct, and the machinery and metal industry, at 2.64 pct. The construction sector saw its monthly pay rise by 14,822 yen, and the auto sector enjoyed a rise of 9,304 yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press