JAPAN DATA: The average wages at major firms in Japan are expected
to be raised by 1.72% in 2011 from the previous year, according to data
released late on Thursday by the Institute of Labor Administration. The
figure is slightly better than its 2010 estimate of +1.64%. The
institute compiled the 2011 forecast by conducting a survey of 451
academics, business managers and union officials who are familiar with
wage and job conditions. Toyota Motor Corp’s labor union, whose
decisions in the past have set the tone for annual labor talks in the
spring, has decided against asking for a wage increase for this year,
apparently seeking to ensure job security.