Japan 2024 Pay Deals Conclude With 5.1% Gain, Most in 33 Years

Japan’s annual pay negotiations ended with the highest raises in more than three decades, according to the final tally of the country’s biggest union group, confirming an upward trend in wages sought by the central bank.

Union federation Rengo announced the final calculation of this year’s wage negotiations on Wednesday, showing its members achieved a 5.1% gain.

The result was lower than the initial figure of a 5.28% increase in March after the inclusion of more deals including those at smaller businesses. The figure still represents the largest hike since 1991. Rengo unions have around 7 million workers, roughly ...