Japanese Workers Just Got 6% Raises - Why Economists Are Worried
Key Points
- Japan is raising its minimum wage by 6% to 1,118 yen per hou...
Japan just announced its biggest minimum wage increase since 2002, bumping workers up to 1,118 yen ($7.57) per hour. That's a 6% jump that would make any payroll department break into a cold sweat - especially when your country is already dealing with 3.3% inflation that refuses to take a hint.
Prime Minister Shigeru Ishiba isn't stopping there either. He's got his sights set on 1,500 yen per hour by 2030, which would be a whopping 42% increase from current levels. It's ambitious, bold, and has economists doing the financial equivalent of biting their nails.
**When More Money Creates More Pr...
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