Japan 2024 Monthly Pay Growth Hits 33-Year High

Tokyo, March 17 (Jiji Press)--The average monthly pay of full-time workers in Japan rose 3.8 pct from the previous year to 330,400 yen in 2024, posting the sharpest increase since 1991, amid growing momentum for wage hikes, government data showed Monday.

By company size, the average pay grew 5.3 pct for large companies with at least 1,000 employees, 3.8 pct for midsize firms with 100 to 999 employees and 1.8 pct for small businesses with 10 to 99 employees, according to the labor ministry’s Basic Survey on Wage Structure.

As the results showed that wage growth was higher at larger companies, it is closely watched how much wage gaps will be narrowed in this year’s “shunto” spring wage negotiations.

Meanwhile, the average pay increased 3-4 pct for most age groups, but growth was limited to 2.5 pct and 2.1 pct for employees aged 50-54 and 65-69, respectively.

By industry, the average pay was up 9.0 pct in the real estate, goods rental and leasing sector and 7.5 pct in the wholesale and retail sector, but down 0.3 pct in the education and learning support industry.

[Copyright The Jiji Press, Ltd.]