Low labour mobility limiting wage gains

The national accounts data show that wage growth has slowed in recent quarters even as the labour market has continued to tighten. With the lifetime employment model preventing employees from switching jobs in search of higher pay, we think that wage growth will continue to fall short of the gains required to reach the Bank of Japan’s 2% inflation target.

Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.
By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.

Already a client or trialist? Log in to read this.