Low wage growth withholds Japan's exit from deflation - Nikkei Asian Review
|Weak wage growth remains a barrier to Japan's exit from deflation.
In the fourth quarter of 2017, the nation's unit labor costs - nominal wages divided by gross domestic product - fell year over year for the first time in nine quarters as a result of sluggish growth in pay compared to GDP, according to Nikkei Asian Review.
No wonder, Abe is pressing Japan's companies to do their part by increasing wages. The progress has been made during the spring negotiations, however, the Nikkei Asian Review quotes Japanese Cabinet Official as saying that the country will "need to wait until around summer" to see the results.
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