Japanese politicians' vow to up minimum wage by 40% raises concerns
Push comes as SMEs are already struggling to pass on higher pricesLeading parties are promising to bump the minimum wage to 1,500 yen ($10.06) per hour by 2029, up more than 40% from the current 1,054 yen. (Photos by Koji Uema and Kotaro Igarashi)
LISA KIM, AKANE OKUTSU and TAMAYO MUTO, Nikkei staff writers
October 22, 2024 12:06 JST
TOKYO -- In the final sprint to Japan's general election on Oct. 27, Prime Minister Shigeru Ishiba and major political parties are vowing to raise the minimum hourly wage to a level experts say would put more strain on small and midsize enterprises.
The campaign pledges come as the country faces a labor shortage and consumers feel the pinch of higher prices.