Wages are rising in Japan more than they have in decades, at least for some workers. In May, the consumer price index was up 3.2% from a year earlier, well above the central bank’s target of about 2%. Although all the major companies have raised wages this year, with large labor union members landing a 4% hike, the highest in 30 years, a quarter of small and medium-size businesses — employers of more than two-thirds of all workers — gave no pay raises, according to the think tank Tokyo Shoko Research.
Wages are rising in Japan more than they have in decades, at least for some workers. But so are prices, leaving many people feeling they must scrimp more than ever.
Japan is witnessing a surge in wages unseen in decades, albeit limited to certain groups of workers. Yet, so are prices, causing a growing number of people.