Japan's largest labor union to seek 5% or more pay hike next spring

Japan's largest labor union decided Thursday to demand a pay hike of at least 5 percent in annual wage negotiations next spring, strengthening its stance from this year to cope with persistent inflation.In its basic policy for 2024 "shunto" negotiations, the Japanese Trade Union Confederation, also known as Rengo, said it will seek a pay hike of "5 percent or more," including a base-pay rise of 3 percent or more. The group had called for a pay hike of "around 5 percent" for 2023.In this spring's wage talks, workers won an average raise of 3.58 percent, exceeding 3 percent for the first time…READ FULL ARTICLE