Japan’s biggest base pay rise in 31 years keeps BOJ on track

Quick Summary:

Japanese workers’ base salaries saw the largest increase in over three decades, supporting the Bank of Japan’s view that the economy remains on the recovery track and backing the case for a rate hike in coming months.

To achieve that goal, the premier has ordered the compilation of an economic stimulus package that is expected to include measures to mitigate the impact of rising prices on household budgets as well as support for small and medium-sized companies that raise salaries.

The pace of gains in base pay quickened to 2.6 percent year on year in September versus a 2.4 percent clip in August, the labor ministry reported Thursday.

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Author / Journalist: Erica Yokoyama | Bloomberg

Category: BusinessStartups

Markets: PhilippinesJapan

Topics: Economy Workers Percent Rate Gains Bank Labor Wages Wage Year Hike

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 11:10:42 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 841 words

Reading Time: 5 minutes read

Sentences: 26 lines

Sentence Length: 33 words per sentence (average)

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Copyright Owner: © Business Mirror

News ID: 23460455

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