Japanese firms agree to 5.46% wage hike but some consumers still feel the strain

Record ID: 1984473

  • Title: Japanese firms agree to 5.46% wage hike but some consumers still feel the strain
  • Date: 14th March 2025
  • Summary: TOKYO, JAPAN (MARCH 14, 2025) (REUTERS) VARIOUS OF PEOPLE CROSSING STREET (SOUNDBITE) (Japanese) 19-YEAR-OLD STUDENT, REN HIRAKAWA, SAYING: "I don't have much money to spend on my hobbies. That's a bit tough so I'd like to have more money to spend on them." VARIOUS OF PEOPLE WAITING OUTSIDE SHIMBASHI STATION IN TOKYO (SOUNDBITE) (Japanese) EDUCATION COMPANY EMPLOYEE IN HER
  • Embargoed:
  • Keywords: Japan Tokyo cost of living economy union wages
  • Location: TOKYO, JAPAN
  • City: TOKYO, JAPAN
  • Country: Japan
  • Topics: Asia / Pacific,Society/Social Issues
  • Reuters ID: LVA001874814032025RP1
  • Aspect Ratio: 16:9
  • Story Text:Japanese firms agreed to raise wages by more than 5% on average this year, on course for their most substantial pay hike in over three decades, a relief for many workers though some consumers said on Friday (March 14) purse strings would remain tight in their household.
    As annual labor negotiations wrapped up this week, many of Japan's biggest companies said they met union demands in full. 
    Sakurako Chiba, an education company employee, welcomed the good news to cope with rising cost of living, adding that it made her “feel like working harder.”
    However for some in Japan, such as pensioners and those whose jobs aren't covered by the union negotiations, the rising cost of living continues to bite.
    "It's really difficult because my pension is just staying the same, it's as if you've got to protect yourself by downsizing in life, that kind of thing," said 78 year-old retiree Haruo Ota.
    (Production: Tom Bateman, Ryota Nomura)
  • Copyright Holder: REUTERS
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