Japan private sector backs 1% real wage growth per year over next five years

The private sector and government have collaborated to push for 1% real wage growth annually over five years in Japan, as inflation-adjusted wages are stagnating. This target was proposed by the government’s advisory panel earlier this month and again during a Monday proposal from the private sector members of the Council on Economic and Fiscal Policy. The council also outlined plans to approve the framework for annual economic and fiscal policy later this year.