Ishiba plans to challenge Japan’s historically low wage growth expectations and encourage businesses to continue the pay raise momentum seen last year. His speech, scheduled for Friday’s opening of the 150-day Diet session, will also highlight efforts to decentralize the economy and unlock regional potential.
Despite record wage increases last year, rising prices continue to strain household budgets. To address this, Ishiba will commit to efforts to raise the national minimum wage to 1,500 yen ($10) per hour by the end of this decade, up from the current level of just over 1,000 yen.
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