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Japan's Minimum Wage Only Enough for a Bowl of Ramen
Japan's minimum hourly wage of 780 yen ($6.30) is about enough to buy a bowl of noodles. A 2.1 percent bump last year didn't keep pace with inflation, and a possible 2.3 percent yen raise this year would be lucky to get workers an egg or extra slice of pork to drop into their ramen lunch bowl. That's a problem for a country that needs consumers to boost spending to invigorate the economy. A bigger-than-usual hike wouldn't just help struggling low-pay workers. Given a tight labor market, it could contribute to a general increase in salaries sought by the government. Japan's minimum hourly wage of 780 yen ($6.30) is ... (full story)
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