TOKYO : Momentum to raise wages has been spreading among small and medium firms in Japan this year, reflecting labour shortages and efforts to help employees tackle an inflationary squeeze, a central bank survey showed on Friday.
FILE PHOTO: A worker checks machinery at a factory in Higashiosaka, Japan June 23, 2022. REUTERS/Sakura Murakami/File Photo
According to the Bank of Japan's survey on regional small and medium firms, labour shortages are now perceived as being here to stay, and the need for continued wage hikes is being recognised widely. Such momentum among small and medium firms, where wage growth typically lags behind that of big companies, could set the stage for another interest rate hike by the central bank.
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