Last year real wages declined an average 2.5%, weakening consumption and helping push the economy into a brief recession. Increases in nominal wages were outweighed by higher consumer prices following the first sales tax increase in 17 years in April. Prime Minister Shinzo Abe hopes his economic revival plan, known as Abenomics, and sustained pay increases will eventually restore consumer confidence and reignite Japan's private consumption, putting Japan on a path of self- web link sustaining economic growth. Mr. celebrity tape Abe pins great hopes on ongoing annual wage negotiations between large employers and major labor unions for the coming business year. The conclusion of most wage talks will come around March 18.
Read more: http://www.nasdaq.com/article/japan-average-wages-rise-20150302-01774