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Kishida asks firms to achieve larger pay hikes in 2024 than this year

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Almost all employees around the world are under paid, so Japan is no different here. The corporations only  obligations is to make even more profit for their share holders and of course the CEO's and directors wealth. And the workers, well they can take a hike, they deserve nothing more than the little we pay them?

1 ( +1 / -0 )

The fault lies with those “out to lunch” that vote, and continually vote, for LDP.

It's the culture, innit. And we get to see the passive aggressiveness. Learn well.

0 ( +2 / -2 )

Will government employees get a raise?

2 ( +2 / -0 )

What Prime Minister in the world asks companies to raise wages?!?! That's ridiculous. Governments job is to make them do it, not ask them nicely to.

2 ( +3 / -1 )

I am sick of hearing about the shunto negotiations. Shunto only has 6.8 million members so it's absolutely irrelevant how and what they negotiate for, wrt most of the japanese workers. In fact their negotiations won't even move the needle when it comes to average or median YoY real wage growth statistics.

All the suck-up Kyodo news pieces are using shunto as an example because that's the only example that makes looking the LDP in favorable light to some extent.

While all the news articles are comfortably excluding how the macro numbers are looking:

the country’s nominal wage growth lagged behind the 2.9% core consumer inflation rate in October, leading to the nineteenth straight month of decline in inflation-adjusted real wages which was reported at -2.3%.

-2 ( +2 / -4 )

Pay more, for doing the same job, and thus become less competitive ? Perhaps, another way of turning this around would be to ask Companies to set aside a % of their profits for equal redistribution to their Employee's (tax free), separate to the normal Performance based incentive bonus pool (taxed) - thus reducing their overall Corporate Tax exposure.

-1 ( +0 / -1 )

If large co don't cough up some extra money in the wage packets, may be it's time for a few strikes, has the government told companies that they must stop assuming that staff will work for two hours for free every day? This will put a few extra yen in people's pay packets, and on another note, does the government ever dish out a wind fall tax in co that make extortionate amount of profit? The UK government did on some of the petro chemical co when they declared record profits,

4 ( +6 / -2 )

LOL. Our Company gave us 0.

Looking forward to -1 next year now!

-6 ( +5 / -11 )

"I strongly ask everyone in the business community to accelerate domestic investment and, above anything else, to achieve wage growth that will exceed this year's," Kishida told the gathering.

….

Kishida and the LDP (both feckless anyway…) must change the laws in Japan otherwise ‘asking’ has absolutely no effect …

0 ( +3 / -3 )

Larger?

i have got none this year as the majority of employees in this country. What is he talking about this fool?

-5 ( +6 / -11 )

So he can raise taxes and price of goods and services.

0 ( +2 / -2 )

Higher wages = more tax coming in.

If he doesn't get more tax money, there is no way he will be able to pay for the massive arms buildup.

And then what would his American handlers say?

-2 ( +3 / -5 )

Gaba teachers have been striking since June(and again today) for just a ¥200 wage increase an end to the requirement to sign up into the Qualified Invoice System(Gaba is coercing instructors to pay the company’s consumption tax - do it or no new contract. Signing up means a loss of income for already underpaid instructors who have had no wage increase since 2008).

2 ( +5 / -3 )

We beer hearing about wage increase for the past 4 or 5 years some did but the majority did NOT, and even if they do Inflation has already eaten it.

For now the poor is getting poorer and the middle class is almost disappearing,

2 ( +8 / -6 )

Japan is a free country, not a totalitarian dictatorship. It’s up to each business entity to decide whether they should raise wages or not. If Kishida wants to “support people’s disposable incomes,” just abolish the consumption tax. That would amount to 10 percent pay raise.

Just about a free country.

min spirit but not deed.

-12 ( +1 / -13 )

aarongstring. 

"There's no point in asking, you'll get no reply," as the words go to an appropriately-titled Sex Pistols song go.

Yeah, and then they wonder why the country is in such a state, when all they need is to look in the mirror. The fault lies with those “out to lunch” that vote, and continually vote, for LDP.

-5 ( +5 / -10 )

Same old tune over and over again. Sounds almost desperate this time. Not that it requires any real action or sacrifice from the leadership. I expect another LDP PM to take over and start the whole thing all over again.

2 ( +8 / -6 )

Japan is a free country, not a totalitarian dictatorship. It’s up to each business entity to decide whether they should raise wages or not. If Kishida wants to “support people’s disposable incomes,” just abolish the consumption tax. That would amount to 10 percent pay raise.

8 ( +20 / -12 )

Low quality companies should be encouraged to go out of business.

But instead what I see is the government pays subsidies to low quality companies, which prevents them from going out of business.

Competitive businesses would naturally raise wages - and we see this from some companies. They have less trouble attracting willing workers.

This is normal economics though.

13 ( +19 / -6 )

aarongstring.

"There's no point in asking, you'll get no reply," as the words go to an appropriately-titled Sex Pistols song go.

-6 ( +4 / -10 )

what a joke of a leader

9 ( +16 / -7 )

Kishida asks firms to achieve larger pay hikes in 2024 

Why not urge? Or is that too much, you think? Ah, go on. Urge. You know it makes sense.

-2( +0 / -2 )

So, the two who have minus-ed my comment: I assume you’re Japanese…are you happy with lower wages? Government inaction? LDP faction corruption? Speak. Or forever have no say, like us “gaijin”.

-12 ( +16 / -28 )

Geez, how about taking the lead here and increasing the pay of the komuiin? No? Then how do you expect private corporations to do what you "ask"?

Oh right! The public got, well gets, pissed off when the komuiin get raises but they dont!

So a vicious circle, no one gets anything!

4 ( +14 / -10 )

Kishida asks firms to achieve larger pay hikes in 2024 

Why not urge? Or is that too much, you think? Ah, go on. Urge. You know it makes sense.

-7 ( +17 / -24 )

might as well become a Youtuber and make USD

-6 ( +9 / -15 )

It's like a sick joke at this point, isn't it?

The fact is, most Japanese companies simply cannot operate at a profit unless they severely underpay their employees. Even the ones that can would rather hoard their cash.

No amount of asking in the world will change anything.

-12 ( +26 / -38 )

So reduce the amount of taxes business pay and we might be in a position to do that! And how do you do that? Stop wasting money on military!!

3 ( +25 / -22 )

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