TOKYO -- Japan's minimum wage is on track for a record jump after a labor ministry advisory panel agreed on Friday to target an average of 1,002 yen ($7.11) per hour for this fiscal year.
The plan amounts to a 41-yen increase from the current 961 yen, and would bring the national average to above 1,000 yen for the first time. The government hopes higher pay will spur consumption and, in turn, economic growth.
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