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Can Raising Japan’s Minimum Wage Accelerate Wage Growth?

Source: www.imf.org
Date: November 28, 2016
Link: blogs.imf.org
Author: Luc Everaert and Giovanni Ganelli

Japan’s minimum wage is 798 JPY ($6.52) per hour, lower than many other advanced countries, including the United States, and among the lowest relative to the average wage (see chart). For a country that needs consumers to boost spending to pull the economy out of 15 years of deflation and reinvigorate growth, a hike in wages across the board can go a long way.

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