Did Japan just launch its comeback from deflation?
The big wage-hike win by unions is a good start, but more heavy lifting is needed for a sustained revival.
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The 5.28 per cent wage bump that Japan’s largest trade union grouping announced ends decades of disappointing shunto or spring wage talks.
PHOTO: AFP
William Pesek
That loud sound emanating from Tokyo is Japanese workers popping the champagne over finally getting the biggest wage increase in 33 years.
The 5.28 per cent wage bump that Japan’s largest trade union grouping, known as Rengo, announced on March 15 ends decades of disappointing shunto or spring wage talks, which take place annually in March.
