After decades of stagnation, wages in Japan are finally rising
But not by enough to satisfy the Bank of Japan
Kasahara yoshihisa, boss of Higo Bank, a lender in Japan’s south, beams with pride as he explains plans to lift wages. The firm’s workers will see a 3% boost, as well as regular increases for seniority. But a sheepish look crosses his face when asked about the last time staff saw such a rise. “Twenty-eight years ago,” he admits.
This article appeared in the Finance & economics section of the print edition under the headline “28 years later”
Finance & economics April 15th 2023
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