The private sector has joined the government in pushing for 1% real wage growth annually over the next five years, as wages in Japan continue to fall on an inflation-adjusted basis.
First mentioned by the government’s "new capitalism" panel earlier this month, the goal was brought up again on Monday in a proposal by the private sector members of the government’s advisory Council on Economic and Fiscal Policy. They urged the government to ensure achieving the target becomes “a norm across the Japanese economy” over the next five years.
The council also deliberated on the framework for the annual basic economic and fiscal policy, which is set to be approved by the Cabinet in June.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.