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Tightening labor markets and wages in Japan in 2015
12/16/2014
Lower oil prices are expected to reduce the oil import bill by 10.6 trillion yen for 2015, and add to Japanese consumers purchasing power. Analysts say tightening labor markets are expected in 2015 as the Japanese economy recovers. Japanese companies have about $2.65 trillion in cash reserves but were cautious in raising wages in 2013-2014. Toyota says it is natural for the company to contribute to higher wages as its profits improve and will take a sincere interest in 2015 wage negotiations. Real wages were up for only 4 months of prime minister Abe's first term in 2013-2014, as wages cannot keep up with price increases.
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