Kroger stock falls after Amazon announces major grocery expansion
Investing.com -- Japan’s Labour Ministry panel has proposed a 6% increase in the national average minimum wage for the current fiscal year, according to a Monday report by the Nikkei business newspaper.
The proposed increase would raise the average minimum wage to 1,118 yen ($7.57) per hour, marking the largest jump since the current system was introduced 23 years ago. This increase would surpass last year’s 5% hike and represent the biggest increase since at least 2002.
The push for higher wages comes as Japan prioritizes real wage growth amid persistent inflation that continues to squeeze household budgets. The timing is particularly significant following Prime Minister Shigeru Ishiba’s ruling coalition’s loss of control in the upper house during July’s election, which highlighted growing public frustration with the government’s economic policies.
The Nikkei report did not specify the source of this information.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.