(Adds quotes, details, background)
By Tetsushi Kajimoto
TOKYO, April 11 (Reuters) - The head of Japan's largest
trade union confederation on Tuesday called for further wage
rises beyond next year, arguing that this year's wage hikes were
inadequate if they prove a one-off.
The trade unions will demand further wage hikes next year
and the year after next to sustain wage growth, Rengo President
Tomoko Yoshino told reporters.
"We don't believe that one-off wage hikes for this current
season would be adequate," she said.
"Wages must go up, up and up to break the status quo."
In Japan, labour unions have typically attached greater
importance to job security rather than aggressive wage hikes
following a series of financial crises since the late 1990s,
which has put a drag on wage growth, Yoshino said.
Japan's major companies wrapped up their annual labour talks
with average wage hikes of 3.8% for this fiscal year, the
largest raise in about three decades, Rengo's preliminary data
showed.
The preliminary survey of 805 unions affiliated with Rengo
showed the average hike rate of 11,844 yen ($88.97) per month.
Rengo's revised estimates as of April 3 showed 2,500 unions
-- accounting for close to half of all unions that submitted
requests -- were able to obtain wage increases of 3.7% on
average.
For smaller unions with less than 300 members, it was 3.42%,
the biggest increase in a decade.
Yoshino said small firms were not in the same situation as
big ones as they struggle to pass on rising materials costs,
squeezing profits and making it harder to pay for higher
salaries.
Asked whether it was better to prioritise wage growth or
employment, she said it was a "tough question" although she
might prioritise employment under certain circumstances.
($1 = 133.1300 yen)
(Reporting by Tetsushi Kajimoto; Editing by Andrew Heavens and
Christina Fincher)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.