Japanese Workers Just Got Their Biggest Pay Rise in Decades

Every year, unions of major companies negotiate wages in Spring for shorter hours and better pay. The parties agreed to a 3.8% wage rise this year, the biggest raise since 1993. The raise was even larger for part-time and contract workers, at 5.91% per hour. A rise in the cost of living drove the agreements. Consumer prices in Japan have risen 4.2% in a year, The sharpest rise for 40 years. And the real value of wages fell 4.1% in January for the tenth consecutive month. Watch to learn more.