Japan’s jobs-for-life system a reason for static wages
In contrast to job-hopping Americans, Japanese workers rarely jump to different companies, likely frustrating policymakers’ efforts to drive wages up. Wages fell steadily during Japan’s long battle with deflation. Raising them has been a focus of Prime Minister Shinzo Abe’s growth program, which seeks to “reflate” the economy through a cycle of higher corporate profits, […]
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