WSJ: Japan Has Plenty of Jobs, but Workers Still Struggle
Notes from WSJ: Japan's unemployment rate now sits near a 17-year low at 3.6%-a level that nearly qualifies as full employment, which traditionally would make wages rise But nonregular jobs have grown to 19.9 million fro…
Japan's unemployment rate now sits near a 17-year low at 3.6%-a level that nearly qualifies as full employment, which traditionally would make wages rise
But nonregular jobs have grown to 19.9 million from 18.2 million since Mr. Abe took office two years ago, while permanent, full-time positions have fallen to 32.7 million from 33.4 million
Economists at the Japan Institute for Labor Policy and Training say the large and rising number of workers in nonregular jobs is a drag on the economy, depressing wage growth and consumer spending, which accounts for 60% of gross domestic product.
U.S. inflation accelerated in September, fueling expectations that the Federal Reserve could raise interest rates later this month as Wall Street reacted to stronger-than-expected consumer price pressures. Data released …
