Japan's average wages up over 5% for 3rd straight year amid rising prices

TOKYO - Japanese companies agreed to raise wages by an average 5.01 percent in this year's spring wage negotiations, marking the third consecutive year of pay increases of over 5 percent, the country's largest labor union said Friday.

The Japanese Trade Union Confederation, also known as Rengo, said its final tally of wage negotiation results from over 5,300 member unions showed the average monthly pay hike stood at 16,400 yen ($102).