Japan’s largest industrial union to target a standard 6% increase in total wages – report

UA Zensen is Japan’s largest industrial trade union and represents workers mostly at small and medium-sized firms. And once again – similar to earlier this year – they are calling for at least a standard 6% increase in total wages going into the spring wage negotiations in 2025. For some context, the wage hike asked for this year was the highest on record since 2013.

That will be a welcome boost for the BOJ, who is still hoping to raise interest rates going into next year.