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TOKYO (Reuters) -Japan aims to raise average minimum wages to 1,000 yen ($9) an hour as soon as possible, Prime Minister Yoshihide Suga said on Friday, a move likely to provoke stiff opposition from small and mid-size firms that are struggling during the COVID-19 pandemic.
FILE PHOTO: Pedestrians wearing protective masks amid the coronavirus disease (COVID-19) outbreak, make their way in Tokyo, Japan, February 2, 2021. REUTERS/Kim Kyung-Hoon
The effort comes at a time when such firms are battling for survival, while policymakers are counting on wage hikes to sustain a recovery from the accompanying downturn.
“We are aiming to bring minimum wages to a national average of 1,000 yen sooner,” Suga told a meeting of his top economic advisory panel, but did not set a timeframe.
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Japan PM advisers urge minimum wage hikes, stick to fiscal reform The private-sector advisers to Japanese Prime Minister Yoshihide Suga on Friday called for raising minimum wages this fiscal year to stimulate private consumption as the world s third-largest economy struggles to contain a prolonged coronavirus pandemic.
FILE PHOTO: A man holding an umbrella crosses a street at a business district in Tokyo February 26, 2015. REUTERS/Yuya Shino
14 May 2021 05:15PM Share this content
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TOKYO: The private-sector advisers to Japanese Prime Minister Yoshihide Suga on Friday called for raising minimum wages this fiscal year to stimulate private consumption as the world s third-largest economy struggles to contain a prolonged coronavirus pandemic.