Keidanren Calls for Giving Weight to Rising Prices in Wage Talks

Economy

Tokyo, Jan. 17 (Jiji Press)--The Japan Business Federation, or Keidanren, urged member companies on Tuesday to give special consideration to surging prices in this year's "shunto" spring labor-management wage talks.

Raising wages is "a social responsibility of companies," Keidanren, the country's largest employers' group, said in a report that will serve as guidelines for the management side in the shunto negotiations.

It is the first time for Keidanren since it started publishing the report on shunto guidelines in 2003 to call on companies to place special importance on price trends, except when the consumption tax rate was raised.

Some major companies have already announced their plans to raise wages sharply.

Meanwhile, a survey by the Japan Center for Economic Research, a think tank in Tokyo, shows that private-sector economists project a 2.85 pct wage increase on average in this year's shunto talks.

[Copyright The Jiji Press, Ltd.]

Jiji Press