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Record 63% of Japanese in financial stress, poll shows

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Very surprising. Probably being unable to travel is a real bummer.

1 ( +12 / -11 )

A while back an article said Japan households had the highest savings ever and now 63 percent have financial hardship. Wonder which one to believe. With house/condo prices up 28 percent in a year and car prices up 20 percent inflation is close to 30 percent

-4 ( +4 / -8 )

This is a global problem. The death of the middle class is a real phenomenon. All of the wealth is being collected by the richest in some form or a other. Its not even their fault, its just how the modern economy works. A global wealth tax is the only solution.

Dont like it? You probably have too much money.

12 ( +23 / -11 )

This questionnaire was only sent to seishain. It does not include anyone else.

https://www.j-cast.com/kaisha/2024/03/26480187.html?p=all

A household income of 7.21 million in 2021 would have put you at around the 75th percentile, meaning that % of people earn less.

https://www.jil.go.jp/kokunai/blt/backnumber/2023/08_09/kokunai_02.html

8 ( +8 / -0 )

If you combine the 30 percent on fixed income (nenkin) and the working poor(contract workers), that sound about right Very sad

0 ( +5 / -5 )

Record 63% of Japanese in financial stress, poll shows

LDP/Japan Inc combine;

But the Nikkei is at an all time high due to Quantitative easing policies inflating investments!!

Defaltion is defeated and commodity prices are rising!

A few exporters boosted by a weak yen and record profits have slightly raised wages for full time staff!

Tourists are flooding in!!

Are you not satisfied???

The disconnect tbetween the LDP mandarins and working populace is stark

8 ( +17 / -9 )

Why the stress? They should be happy that their employers are enjoying record profits!

1 ( +12 / -11 )

Not surprising, in order to fund slush funds and "entertainment" for the politicians and government workers, for purchasing US arms and beefing up the military, taxes are very high. Cripplingly high. Something has to change before the country goes bankrupt. And with Japan's economy closely tied to the US's, the future looks bleak!

-5 ( +10 / -15 )

Bertie are you dreaming? This is Japan, nothing can change…..change is rash and risky! Better to just trust their betters. The LDP will continue to win every election, the money concentration will increase and the people will meekly starve….. quietly, so as not to disturb the wa. There is no longer any survival instinct in the culture.

-3 ( +13 / -16 )

The average annual household income for people on a tight budget was calculated to be 7.12 million yen, compared with 8.78 million yen for households who are not under stress, according to the survey by recruitment information firm Mynavi Corp.

The online survey targeted female and male full-time workers aged 20 to 59, with 3,000 valid responses collected.

This data does not reflect the reality for millions of households in Japan - ¥7.12 mill & fulltime male/female workers.

Millions of households in Japan are supported by 1 fulltime wage and 1 part time or 2 part time wages or any other combination with contract / temp work.

The average household income in Japan as of 2023 was about ¥5.1 mill. 6% of households had income less than ¥1 mill.

So if the articles participants are experiencing stress, what of the 10s of millions of folks in Japan doing it way, way, way worse.

Japan with one of the highest rates of child poverty in the OECD with 1 in 6 children living in poverty.

A real underclass has and is developing rapidly in Japan.

¥7.1 million is a windfall for most Japanese families.

8 ( +12 / -4 )

Not working out, well Japan you decided to (or more accurately it was determined that you would) follow Uncle Sam so deal with it

-10 ( +7 / -17 )

It’s not really much of a revelation considering there has been no wage growth for nearly 30 years but the cost of living keeps increasing. You don’t have to be an economic genius to realize it’s a downward spiral sending everybody broke.

-4 ( +10 / -14 )

Some people blaming the U.S. as usual but the problem lies with the government so lay the blame there. Their unsuccessful economic stimulants have stagnated the economy . Even so, Japan is a very rich country and the vast majority are well off comparatively. Billions of others around the world would love to have this problem so they should give thanks that they are able to complain over having a household income of "only" 6 or 7 million yen. I do.

-5 ( +10 / -15 )

And probably those 63% are living on a 100 to 300 JPY instant noodles 4 to 5 times a week.

-8 ( +4 / -12 )

Very surprising. Probably being unable to travel is a real bummer.

Since the Coronavirus pandemic (and the accompanying government subsidized travel programs) finished the price of travel within Japan has gone up substantially. I had a blast the last few years! Discounted travel with the wife, discounted travel with the gf, small crowds, no Chinese - it was awesome!

3 ( +6 / -3 )

Just like 75%of the countries in the world. The financial system, reserved for the rich/privilege, generate/create wealth, for the top 20%, at most, of the population. The rest, are clueless.

5 ( +7 / -2 )

in the world's fourth-largest economy said they are struggling financially.

Wow so finally they admit japan is the 4th largest economy not the 3rd as usually announced.

Anyhoo did it really take a survey to discover most of the general public are struggling financially ?

I imagine the real percentage to be realistically much higher than the survey anyway

-5 ( +4 / -9 )

Very surprising. Probably being unable to travel is a real bummer.

Even with the exchange rate where it is japan isn't a top destination choice right now , and for those of us seeking to take a vacation overseas we cant afford it.

Cost of living increases isn't exactly creating culture harmony.

-7 ( +3 / -10 )

Isn't deflation the definition of the cost of living not going up? Feels like much of the same, not that it isn't a issue.

1 ( +1 / -0 )

Everything goes up except our wages

-2 ( +8 / -10 )

Record 63% of Japanese in financial stress, poll shows

oh, really?

You mean making less than ¥1000 yen (at ¥151 to $1) per hour, minimum wage and no significant raises across the majority of companies, isn't cutting it?

Shocking

-3 ( +5 / -8 )

The average annual household income for people on a tight budget was calculated to be 7.12 million yen, compared with 8.78 million yen for households who are not under stress,

I reckon a large % of people are not making near that but still being fully taxed. And having to access food banks while hustling for work.

https://mainichi.jp/english/articles/20230710/p2a/00m/0na/020000c

Add up all this % of the disaffected and the % making out in this economy is vanishingly small.

That is Neo-feudalism.

0 ( +6 / -6 )

Just been OS the last 2 weeks and the amount then yen gets now is bordering on parity with SE Asian nations.

Developed nations are double or triple the prices here.

Some places are more expensive now for hotels and food etc that were considered cheap places to visit until quite recently.

I opted to use another currency to not be rolled over.

2 ( +3 / -1 )

People are earning good income but if they are renting in tokyo or osaka, most of their salary would be lost in the extra fees for renting. Japan is the only country that requires tenants to pay almost all the owners responsibilities, and extra ordinary agency fees like key fee, gratitude fee, moving in fee, renting fee, other many big fees for nothing, fire insurance etc. In developed countries, tenants are only required to pay the rent and about 3 months deposit. All other fees are owners expenses, and there is no agency fees with nonsensical names.

4 ( +5 / -1 )

Japanese can get upwards of 5 percent returns on their money,by putting their money in an American bank in Tokyo, even Chase and Bank of America have branches in Tokyo

-5 ( +0 / -5 )

Yrrai

> Japanese can get upwards of 5 percent returns on their money,by putting their money in an American bank in Tokyo, even Chase and Bank of America have branches in Tokyo

Yes buy this interest gain can be wiped out in a couple of hours by a surge of the JPY. A 10 JPY rise of the JPY against the USD during a single day happened in the past.

0 ( +1 / -1 )

All other fees are owners expenses, and there is no agency fees with nonsensical names.

Do you really think, they really get all those generous presents from the landlords in other countries? That's of course complete nonsense, as all the costs and profit margins are then just hidden as a percentage in the monthly rent amount, or if that's not immediately possible, then they are cashed in later by much higher amounts fixed in forced renewed contracts or simply when a person moves out and the next one moves in. So the system here is of course not any better, but only different in so far that it is more transparent.

-5 ( +0 / -5 )

All this data is about the old economy, I hate to burst your bubble, but a new economy is growing and doing very well. Educate yourself, be open to new ways to earn a living and stop thinking the old ways of the government will take care of you. Take responsibility for your life and thrive in this new economy, If you don't see it you're looking hard enough.

-3 ( +3 / -6 )

No surprise there!

-3 ( +1 / -4 )

This is what happens when you keep raising prices but don’t raise wages.

1 ( +6 / -5 )

Pay them more!

Minimum wage is Australia is $23/hr at current exchange rate 2300yen. Minimum in Japan is 1002yen!!?? Absolute robbery!

-2 ( +3 / -5 )

Now repeat the survey to non-full-time employees, where a family/ household might have a combined income closer to ¥4,000,000, and then you will learn what financial stress is.

-1 ( +3 / -4 )

Minimum wage is Australia is $23/hr at current exchange rate 2300yen

Not everyone took over a massive bountiful continent and got rid of the owners.

-1 ( +0 / -1 )

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