A panel advising Japan’s government called for a record increase to the minimum wage for a second straight year, sending a positive signal to the Bank of Japan as it pursues demand-led economic growth.
The advisory panel to the Labor Ministry proposed on Monday raising the average minimum hourly wage for the current fiscal year by ¥63 ($0.43) to ¥1,118. The 6% hike would be the largest gain since the government began setting hourly wage targets in 1978 and would follow last year’s 5% bump, the previous record.
In order to reach a consensus, the government panel, comprising of representatives ...
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