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
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.