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 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.

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