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6th September 2018 Massive Earthquake in Japan
6.7 magnitude earthquake in Japans Hokkaido prefecture kills at least 10 people and cuts of power to 5 million people.
Japans nuclear regulators say the local nuclear power station has not presented abnormal radiation following earthquake though was offline for several hours as a precaution.
7th August 2018 Japans Wages Increasing Faster
Real wages in June in Japan rose at fastest rate since January 1997. This should increase consumption and corporate profits if the extra money is not put into savings or paying off existing debt.
6th August 2018 Japan May Put Clock For A Couple Of Years
Japan is considering putting the clock forward two hours in preparation for Olympic Games 2020. Move time would make key days of the day cooler for some competitors.
The Japanese government says it is yet to decide on the move but does want to limit the effect of summer heat on the athletes.
24th July 2018 Japans Weather Agency Declared Heatwave Natural Disaster
65 deaths have been recorded. More than 22000 people have been admitted to hospital with heat stroke. Declaring a natural disaster can release and focus more government assets to cope with the heatwave.
The highest ever temperature has been recorded in Japan during the heatwave of 41.1C in the city of Kumagaya.
The summer holidays could be extended to protect the lives of pupils. People have been warned to drink plenty of water use air conditioning where possible and rest often.
7th July 2018 Western Japan Hit By Fatal Flooding
Heavy persistent rainfall has caused flooding and landslides killing dozens of people in western Japan.
30th May 2018 Japan To Open Up To More Immigration
According to Nikkei business daily the Japanese government will increase unskilled foreign workers to fill skills gap in nursing shipbuilding construction and farming.
Japan has a dangerous demographic time bomb. It is not producing enough home grown people to meet future working needs. It presently bans unskilled foreign workers.
The Japanese government says it is investigating ways to attract foreign workers but would not be targeting unskilled workers.
18th May 2018 Japan Still Can Not Shake Off Deflationary Economic Risk
Japan core consumer price inflation slowed in April for second month. Central Bank of Japan is trying to encourage price inflation towards its 2 percent target with repeated difficulty.
Insipid price inflation will prevent the removal of quantitative easing QE for several more years.
23rd April 2018 Japan 3 Trillion Yen Trade Surplus
2017 second year of trade surplus with rest of world. Big drivers of trade surplus is automobile exports to USA.
16th March 2018 Japan EU UK and Brexit
Japan business representatives, Japan Business Council in Europe JBCE, want Japan’s deal with European Union EU to apply to Britain during the transition period, yet to be agreed between EU and UK.
8th March 2018 Japan Economy Grows 1.6 Percent Last Quarter 2017
Japan reports annualised economic growth rate of 1.6 percent in Oct-Dec quarter of 2017 driven be strong domestic consumer demand and private investment.
2nd March 2018 Fight Against Deflation Continues
Japanese Prime Minister Shinzo Abe says the government and central bank must continue to work together to end deflation. Japan has struggled with deflation for decades.
2nd March 2018 Japan Jobless Rate Hits 25-Year Low
Japan’s unemployment rate fell to a 25 year low in January and the number of job vacancies in Japan is at a 20 year high according to the Japanese government.
Japan’s unemployment rate fell to 2.4 percent in January, down from 2.7 percent in December. There are currently 1.59 jobs to every job applicant in Japan which is highest ratio since January 1974. Yet wage inflation in Japan is disappointingly low for the Prime Minister’s liking.
Japan is experiencing its longest continuous economic expansion run since the 1980’s yet inflation is stubbornly unhealthily low.
21st February 2018 Japan Government Confirms Economy Continuing To Recover Slowly
Japan’s government assessment of economic prospects for Japan is that it will continue to improve but slowly.
Japan’s economy has grown for 8 straight months, the longest continuous expansion since a 12-quarter growth run between April-June 1986 and January-March 1989.
- Share prices close to highest in 26 years
- Corporate profits are near all-time high
- Business investment rising
- Exports growing
- Domestic demand is sustaining solid but slow growth
Prime Minister Shinzo Abe wants big businesses to increase wages by at least 3 percent in 2018 to sustain and speed up business growth in Japan, but big business leaders in Japan aren’t responding to his vision of growth.
20th February 2018 Japan Set To Make Major Change To Immigration Policy
Japanese Prime Minister Shinzo Abe has reportedly ordered his top advisory panel to consider ways to increase foreign workers to alleviate Japans growing skills shortage.
I want to be able to show some direction on accepting foreign workers by the summer Abe said at a meeting of the Council of Economic and Fiscal Policy.
The change of policy could affect both high skilled and low skilled foreign labour.
Labour shortages have already resulted in the shortening of operating hours or a scaling back of operations in some industry sectors.
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