Japan’s Suga – Spur consumption by raising minimum wage

Omkar Godbole FXStreet Contributor

As per Bloomberg report, Japan chief cabinet secretary Suga has welcomed the increase in the minimum wage.

Suga added it is important to spur consumption by raising the minimum wage.

A government advisory panel on Tuesday agreed to recommend raising the country’s average minimum hourly wage by ¥24, or 3 percent, for fiscal 2016.

The increase will bring the average minimum wage to JPY 822 for the year that started in April.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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