World Economy

Pushing for Wage Rise

Pushing for Wage RisePushing for Wage Rise

Prime Minister Shinzo Abe on Tuesday stepped up pressure on business leaders to hike wages as he embarked on a renewed push to reinvigorate Japan’s economy after his weekend election triumph. Stagnant salaries are one of the main missing links in the “virtuous circle” of growth that the premier’s signature “Abenomics” plan envisages, AFP said. While prices in deflation-plagued Japan have finally begun to rise, take-home pay – especially when measured by spending power – has shown  itself stubbornly resistant. That has left many people worse off. Complaints over the uneven effects of Abenomics were a common refrain in the run up to Sunday’s poll.