TOKYO, July 3 (Reuters) – Japanese companies logged another year of big pay hikes, the nation’s largest labour union group said, signalling that sustained pay increases are becoming firmly entrenched to support the world’s fourth-latest economy.
The final tally of annual labour talk results showed Japanese companies have agreed to raise pay by 5.01% on average this year, the 7 million member-strong group Rengo said on Friday. That follows an average increase of 5.25% last year and 5.10% the year before.
(Reporting by Kentaro Sugiyama and Makiko Yamazaki; Editing by Christopher Cushing)
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