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MNI BRIEF: BOJ Regional Report Shows Wages Set To Rise

(MNI) Tokyo
MNI (Tokyo)

The Bank of Japan's October regional economic report found businesses that had recorded strong profits and were suffering from labor shortages are considering raising wages next spring, while others remained cautious about wage hikes amid high costs and a squeeze on profits.

Most regions reported improvements in job and wage outcomes, with the region of Kanto-Koshinetsu - which is home to Tokyo - noting the employment and income situation had stated "to pick up on the whole" and there were "signs of improvement" in the labour market. The ability of companies to deliver sustainable increases in wages is viewed as key to any adjustment in the BOJ's easing policy. (See MNI INSIGHT: BOJ Policy Waits On Small Firm Wage Hikes)

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The Bank of Japan's October regional economic report found businesses that had recorded strong profits and were suffering from labor shortages are considering raising wages next spring, while others remained cautious about wage hikes amid high costs and a squeeze on profits.

Most regions reported improvements in job and wage outcomes, with the region of Kanto-Koshinetsu - which is home to Tokyo - noting the employment and income situation had stated "to pick up on the whole" and there were "signs of improvement" in the labour market. The ability of companies to deliver sustainable increases in wages is viewed as key to any adjustment in the BOJ's easing policy. (See MNI INSIGHT: BOJ Policy Waits On Small Firm Wage Hikes)

Keep reading...Show less