Reuters Corporate Survey on Japan labour market, wages, reforms productivity
The Nikkei Research conducted a corporate survey for Reuters on the Japanese labor market between April 4 and 7.
Key findings from the survey:
Poll of 529 big and mid-sized businesses
Around 240 responded
50% of Japanese firms expect planned labour reforms will push up costs, 38% see no change
67% considering steps to boost productivity to cope with the impact of labour reforms
The proposals, which may come into effect from 2019, will only add to strains already being felt as firms grapple with a deepening labour shortage due to a rapidly aging population
More pressure to boost productivity is seen as long overdue and could boost growth in the long-term
"Coming on top of labour shortages, Abe's plan will cause declines in sales and profits. We have done what we can in terms of streamlining," wrote a manager at a machinery maker, one of the nine percent of firms which saw a considerable jump in labour costs
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
