Japan Sets 1% Wage Growth Target to Spur Economy in New Policy Plan

Japan sets 1% wage growth target to spur economy in new policy plan

The Japanese government has approved a policy blueprint focused on wage hikes, setting a target of approximately 1 percent real pay growth annually over a five-year period to…

Ishiba Cabinet Adopts Basic Policy Prioritizing Wage Hikes Over Tax Cuts; National Average Minimum Wage to Increase to ¥1,500 Later this Decade

The Cabinet approved the Basic Policy on Economic and Fiscal Management and Reform on Friday. The basic policy states the government will “pursue a policy of increasing wages over cutting taxes,” aiming to realize a growth-oriented economy through a real wage increase of about 1% per year.