Major Japanese firms offer 3.91% pay hike; sharpest rise in 31 years

All 15 industries except for steelmakers saw larger wage increases than last year, the data showed. Shipbuilders logged the biggest rise of 6.06 percent, followed by the machinery and metal industry's 5.01 percent and construction companies' 4.64 percent.

Looks like they got the LDP crony construction combine covered with wage increases. How about the other 95% of workers?

Companies are also under pressure to improve their wage levels to acquire global talent.

Maybe if they constructed a wage system that compensated domestic workers well first, they would come?

3.91% after 31 years? - Scrooged again!

3.9% raise, sharp raise? Wow! Real sharp, Japan (sarcasm). At least make it 4.

sharp?

OMG

no komento senores...senoritas...

we did 22% from july to all staff.

but yes we are not in news...

Yep, 1992. End of the bubble. I missed the good times. They used to throw 10,000 yen bills like confetti.

What was the news the other day?

Japan approves up to 42% increase in household electricity prices

They would need to increase salaries by at least 40% to catch up. And this inflation has just started...

Great...and how much are pay rises at " minor firms" ?

A 3.91% rise is so sharp that I can cut paper with it; only need soggy paper though

This is a joke !

3.91 % !!

Just to be clear, it is 3.91 percent NOT 4 percent.

What’s the Japanese teacher’s union doing?

What about what you obtain in your pocket (net not gross)?

If I remember well muninipal tax is compulsory and above 10 % so this raise can be considered in real value more like 3.5 % or even less.

And an average over only 92 companies, with no leveling by number of employees by company is just a lure from companies.

Meanwhile, our purchasing power has been seeing a flat line and declines in certain areas despite this sharp increase I'm hearing about.

That's a big increase for Japan and as it's the biggest in 31 years, who would complain about it?

Official inflation is over 8% , unofficially it’s close to 20% for many goods. So even at the official rate of 8% you lost 5% purchasing power even if you are in the TINY minority of lucky people who got raises.

Official inflation is over 8%

As of April 2023, the inflation rate is at 3.5%.

unofficially

Meaning "what I feel I think it could be in my opinion"?

it’s close to 20% for many goods.

The product group with the highest increase in prices was household goods at 9.8%, followed by food at 9.0% YoY.