The average hourly minimum wage in Japan is set to top ¥1,000, a key government target, after a labor ministry panel proposed on Friday that the rate should be raised by ¥41 to ¥1,002.
With the government eager to create a healthy cycle of pay and price increases, the minimum wage panel suggested a record 4.3% hike from the current average of ¥961.
The goal of bumping up the average minimum wage to ¥1,000 was set in 2015 and was widely expected to be achieved this year, with Prime Minister Fumio Kishida stressing the importance of reaching that milestone earlier this year.
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