Japanese Companies' Average Wage Increase Rate Hits Record High of 4.1% This Year
The Highest Rate of Increase Since 1999
The average wage increase rate for Japanese companies this year reached a record high of 4.1%.
![[Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2024091614290630910_1730180566.jpg)
According to the 2024 Wage Survey results announced by the Ministry of Health, Labour and Welfare on the 28th, the average wage increase rate per person was 4.1%, up 0.9 percentage points from the previous year. This is the highest increase rate since comparable statistics began in 1999. The average wage increase amount was 11,961 yen (approximately 108,000 won), which is 2,524 yen (about 23,000 won) more than the previous year's increase.
Looking at wage increase rates by company size, large companies had a higher average increase rate of 4.8%. Most small and medium-sized enterprises (SMEs), which generally do not have labor unions, had a relatively lower rate of 3.7%. A Ministry of Health, Labour and Welfare official explained, "Large companies are making efforts to raise starting salaries to secure labor, but SMEs face difficulties."
Hot Picks Today
!["Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①](https://cwcontent.asiae.co.kr/asiaresize/93/2026051914165468840_1779167814.png)
"Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- "I'll Stop by Starbucks Tomorrow": People Power Chungbuk Committee and Geoje Mayoral Candidate Face Criticism for Alleged 5·18 Demeaning Remarks
- Jensen Huang: "China Will Eventually Allow Imports of U.S. AI Chips"
- "How Did an Employee Who Loved Samsung End Up Like This?"... Past Video of Samsung Electronics Union Chairman Resurfaces
Meanwhile, Rengo (Japanese Trade Union Confederation), Japan's largest labor union organization, decided this month to demand a wage increase of more than 5% in the spring wage negotiations (Chuntu) next year. Real wages for Japanese workers showed a decline for 26 consecutive months from April 2022 to May this year, rose in June and July, but fell again in August.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
