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Japan’s companies promise higher pay and consider AI – as stocks and GDP forecasts perk up
Japan’s labour market has become extremely tight as the nation’s famously challenging demographics flip from deflationary to inflationary (at least for now). Wage growth is at its highest in 30 years. Over 80 percent of CEOs are reporting labor market tightness. The corporate Tankan survey (visualised in the next chart) shows that for both small and big business, employment conditions are almost as tight as they were when the asset bubble burst over 30 years ago. Food services, information technology, and construction staff are in high demand. Truck drivers are agitating for an end to offers of free delivery. ... (full story)