How Much Are Salaries Going Up in Japan?

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March 17 (Bloomberg) –- In today’s “Global Outlook,” David Ingles takes a look at salaries in Japan on Bloomberg Television’s “On The Move Asia.” (Source: Bloomberg)

Japanese consumer cope?

Rising wages in the land of the rising sun.

We have started to see more corporate -- over the last two weeks, firms have wrapped up some of these talks they have had with their unions and have agreed to give more pay.

Let me take a step back and look at why this is important.

Three reasons.

They want to jack up inflation.

And keep it at two percent.

We have the sales tax kicking in , april 1, of course.

The currency effect, the week japanese yen -- weak japanese yen.

The idea, and we have a diagram for you, corporate japan put more money into the pockets of employees to help them cope with that.

It will go to the supermarket and buy more things.

From what has been announced so far, we are looking at an average wage of 19 u.s. dollars a month.

Some numbers and names for you.

Carmakers, the average increase is 28 u.s. dollars per month.

Some electronics makers have also announced their version of wage increases.

Hitachi and panasonic in the region of about 20 u.s. dollars a month.

Other firms across industries, this is not exclusive to carmakers and electronic makers.

We have convenience store operator, $30. mitsubishi electric, 20 u.s. dollars.

These increases do not include bonuses, which some firms have agreed increasing as well.

It is across several industries.

This will only work if more companies, both big and small, heed the call of the government.

It will only do that if they think it will be good.

This text has been automatically generated. It may not be 100% accurate.


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