Japan Panel Proposes Second-Largest Minimum Wage Hike

A Japanese government panel has proposed raising the average hourly minimum wage by nearly 5% to 1,176 yen (approximately $7.18 USD) for the current fiscal year.

This increase would be the second highest in history, following last year's hike of 66 yen, and brings the national upward trend for wages amid a slower rate of inflation.

The labor ministry panel noted that while the recommended increase is lower than last year's, it still represents the second-largest hike since 1978 when the panel started making recommendations.

The government aims to achieve a national average minimum wage of 1,500 yen (approximately $9.15 USD) by the early 2030s.