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© Thomson Reuters 2021.Japanese companies offer lowest pay rises in 8 years as pandemic bites
By Tetsushi Kajimoto TOKYO©2024 GPlusMedia Inc.
24 Comments
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Michael Machida
But this is fine because in Japan no one will ever go against anything so a low wage is just as acceptable as a rainbow in Hawaii. Everything is going to be OK.
Septim Dynasty
Biggest wealth transfer to foreign entities in history. Or the biggest sale of a country to foreign powers.
Japanese bureaucracy will consider this as full employment even if it is not.
The hypocrisy of the Japanese state embarrasses the United States a lot of times. Now, no one in Wall Streets to Main Streets ever believes in Japanese figures at all. Those Tobashi practices exist to make beautiful numbers that satisfy the clueless bureaucrats and Nihon ultranationalists.
Even the CCP and VCP strictly enforced independent, external audits, while Japan does not do it strictly. Too many Keiretsu malpractices (like Toshiba and Olympus) are ongoing.
Cricky
Companies saw their profits rise in the last eight years, (and tax reduction) stock market made record gains. something is seriously wrong with how people are paid. And I bet politicians and bureaucrats get a pay rise. As pol pot said freedom is the absence of choice.
Fuzzy
I'm not sure what you mean by this, but unless you're getting cold hard cash in your bank account each month, I wouldn't be so sure that you will ever see that money...
dagon
The economic reportage of Japan Inc. is more propagandistic than the CCP's.
dagon
So we have:
Abe's pandemic stimulus brought benefits to wages that only ended recently.
Abenomics targeted wage growth beyond his periodic "urges" to Japan Inc.
The pandemic economic downturn is the reason wage growth is stalled.All of which are patently wrong and untrue.
Bravo effort at spinning the narrative though.
Chico3
At least they are getting raises, unlike many foreigners here.
Fuzzy
@Ricky
i'm still quite confused by your posts. Can you go out and spend this new money tomorrow? Or, do you need to wait until retirement age to get access to it? If the former, I'd say don't count on getting it. If the latter, good for you. Either way, maybe you should get your ego in check.
Oxycodin
Good news. One day I am looking for an opportunity to work a super market and be able to pay my bills and send my kids to college one of these days as I of am burning out from office working in cubicles.
fxgai
So then, did the 2% inflation target get met, after those 7 years of 2% wage hikes?
I’m going to guess no one thinks the inflation target has been met. But government keeps meddling in prices nonetheless...
oyatoi
You’re kidding yourselves if you expect those doing it tough, scraping by on incomes that have regressed in real terms, to be anything other than disgusted to learn that their ‘betters’ have only been getting 2% annual pay increases these past seven years.
kurisupisu
This pandemic has been a hard lesson but it has been the best wake up call I’ve had for 10 years +
Nadrew
Kuroda’s bazooka. Quantitative easing. Devalued ¥en 78/105 or 74% and stealing from everyone’s savings. Meanwhile purchasing stocks and bonds making BOJ the top holder of stocks and bonds in Japan. Kuroda is blowing a bubble. Stocks are now higher than 1989.
Rich people getting richer. Is this going to go down as one of the biggest wealth transfer to the rich in history?
kaimycahl
@Fuzzy, Ricky didn't see the - sign which indicates a decrease in his retirement!
I'm not sure what you mean by this, but unless you're getting cold hard cash in your bank account each month, I wouldn't be so sure that you will ever see that money...
Styopka
Uhm, sorry......what pay rise?
Goodlucktoyou
How about we work for no pay, and in return the government gives each family rice, noodles, cooking oil, fish and vegetables? Electricity, gas and water free.
Ricky Sanchez
Fuzzy,
i get ¥155,000.00 more each month to my monthly deposit I get.
Ricky Sanchez
@fuzzy,
Hard cold cash into my bank account..deposited every month.. I get paid more money in retirement than most average full time, married to their job Japanese make at age 70, being a CEO..and I am just a young buck!
Ricky Sanchez
I got a substantial pay raise this year! My retirement was increased ¥150,000.00 a month! Not bad not even being age 40!