Japanese Government To Restart Labour Talks

The government plans to resume its three-way talks with labor and management representatives as early as next month.

“Everyone needs to share the view that a virtuous economic circle will be maintained with employee pay raised on better corporate earnings,” Prime Minister Shinzo Abe said at a meeting of the Council on Economic and Fiscal Policy on Tuesday.

Abe also called for frank discussions on new ways of working, referring to an envisioned white-collar exemption system that would allow employers to pay in accordance with achievements, rather than hours worked. Labor unions oppose such a system.

The key government council held the first meeting since Abe reshuffled his Cabinet earlier this month.

Sadayuki Sakakibara, chairman of the Japan Business Federation (Keidanren) and one of the two new private-sector members of the panel, sounded positive toward increasing employee pay.

The other new private-sector member is Takeshi Niinami, incoming president of Suntory Holdings Ltd.

Abe reiterated that his Cabinet is focusing on the economy, giving top priorities to the development of local communities and the promotion of women’s participation in the workforce.

via Japan News

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza