"If more companies make a move like ours, it will help Japan overcome deflation"
- Lawson spokesperson
The average wage in the world's third largest economy edged higher for a third consecutive year in 2012, pointing at the improvement in the labour market, the Labor ministry said Thursday. The average regular monthly wage for full-time workers in Japan rose 0.3% last year, up from the previous year to 297,700 Yen. Even though Japanese economy fell into a recession last year, latest data reflected improvements of the economy after a slump caused by March 2011 earthquake and tsunami. The regular wage excludes bonuses and overtime.
"An increase of 150,000 yen in an employee's annual income could mean a lot for a [young] person who needs money to get married or raise children," said a Lawson spokesperson, a company which decided to raise the salaries of its younger workers. "If more companies make a move like ours, it will help Japan overcome deflation," he added.
"We reiterate that excess volatility of financial flows and disorderly movements in exchange rates have adverse implications for economic and financial stability," the G20 statement said adopting a G7 wording.
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