Asian Economy: Overview, Growth and Development.

Byline: S. Kamal Hayder Kazmi

Kuroda Japan's labour practices keep wage pressures under control

Japanese firms have no pressing need to raise wages because they retained jobs during last year's pandemic-induced economic slump, and thus do not need to fill job vacancies as quickly as U.S. companies, Bank of Japan Governor Haruhiko Kuroda said.

The surge in demand triggered by the re-opening of the U.S. economy, and layoffs by U.S. firms to deal with the pandemic's initial hit, have recently caused serious bottlenecks and labour shortages in the country...