Kishida urges wage growth to revive Japan economy

16 comments

1. I feel the urge too.

   But it remains all flaccid and limp 🙁

2. The LDP has just worked this out after 30 years of raising sales taxes, deregulating the jobs market and refusing to deal with manpower companies taking 50% of salaries in commissions?

3. They keep urging but nothing happens.

4. He can urge all he wants, but if he doesn’t have the wherewithal to make it so through actual governance, it ain’t gonna happen.

5. Frankly I don’t understand this. Where is the extra % to come from?

   Most Japanese businesses aren’t exactly growing leaps and bounds. Increase payroll costs and the bottom line gets squeezed.

   Inflation is up, which means capital and running costs are up. Profit margins shrink and then you get layoffs.

   Japan is not like the US with CEOs making 10,000x the average employee.

   The government needs to stimulate growth. Arbitrarily asking to raise salaries is going nowhere.

6. Japan’s yearly minimum wage is $11,254.

   He could start by doubling that.

7. I was watching a show today that was asking people what their profession was and how much they make. I was so surprised at how little money many of the people that were getting interviewed were making.

8. If you can do that, the Japanese people won’t be worried. They complain because it’s not done.

9. Falling birth rates, plateauing productivity, and a decreasing population. And you want an increasing gdp? Where from? You got a lady in the lake somewhere?

   You need to either lean into automation, increase wages and move back towards a single income family, or embrace long term unskilled foreign labor to move the needle here.
   The unlimited growth model can’t be realized.

10. I earn 10 million JPY a year and I’m feeling it…. Raise salary please

11. ill believe it when i see it

12. Realistically, LDP will create more “learning/working visa” programs to entice people from south-east asia to work as super low-wage workers with zero rights to fill in their national productivity issues without actually increasing wages. Then they can send out a PR blast about their progressive immigration reform. Two birds with one stone.

13. Ah yes… urging will surely make a difference

14. He could start by raising wages for those 100000s of government employees, teachers, policemen & women, firefighters etc.
    But he doesn’t. So it’s all BS what he says.

15. Some city workers have not had a raise in over 15 years, and there are 1000s of them in our city. The problem is that even if they make new laws the city just sidesteps the laws by writing in exemptions for themselves into the laws that they are passing. Or they just don’t follow them because there are no punishments for them if they don’t. They also write laws that punish us for unionizing or organizing strakes. It is a joke. The government has said wages need to grow for years but nothing they have done has changed it. In fact, they wanted inflation to happen because they thought it would force wages to go up. Surprise!! .. it didn’t. When times get tuff, we all just stop spending and going out.

16. “Increase wages, so we can tax more.” -Kishida, maybe.

    /s