Japan Rengo's first-round wage hike exceeds 5% for second straight year

Market news

14 March 2025

Japan Rengo's first-round wage hike exceeds 5% for second straight year

Japan's largest trade union group, Rengo’s first-round data shows an average wage hike of 5.46% for fiscal 2025, compared to the demand of a 6.09% hike.

The 5.46% wage hike is higher than last year's average of 5.1%, exceeding 5% for the second straight year with the Japanese spring wage negotiations (Shunto) underway.

Market reaction

The Japanese Yen (JPY) has come under fresh selling pressure on these headlines, driving USD/JPY 0.73% higher on the day at 148.90 at the press time.

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