Friday, March 31 2023


Japan Inc strives to lure skilled workers as inflation, labour crunch bite

From inflation allowances to the reskilling of workers, firms in Japan are stepping up efforts to help employees fight rising prices and a labour crunch, even though some cannot afford pay hikes that do more than offset cost-push inflation. As annual “shunto” labour talks get into full swing, momentum from both labour and management is growing for firms to offer such hikes to cushion, even if not beat, consumer inflation, which hit a 41-year high of 4% in December. At the spring session of the labour talks, set to wrap in mid-March, major firms, such as Toyota Motor Corp, negotiate with in-house unions to set wages for the coming fiscal year from April.

Source: Yahoo Sports


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