No higher wages for Japanese workers, business head says

No Higher Wages for Japanese Workers, Business Head Says
BY JACOB MASLOW



TOKYO: -- The head of Japan’s powerful Business Lobby will not consent to requests by the Japanese Government to raise salaries in the coming year.

The refusal has caused concern that real wages will not rise enough to fuel further consumption, in accordance with economic blueprints outlined by the government to end a long cycle of weak growth and deflation. This is part of Prime Minster Shinzo Abe’s economic plan, often dubbed “Abenomics”.

Concerns over weak overseas demand and a slowdown in emerging markets has caused many companies to be reluctant to embrace the plan to increase wages.

Prime Minister Abe also plans to increase the minimum wage by approximately 3% next year, in order to cause wider economic growth in the country.

Full story: http://www.streetwisejournal.com/no-higher-wages-for-japanese-workers-business-head-says/


-- StreetWiseJournal 2015-12-28