Japan's "Spring Offensive" – Matthews Asia

Japan’s “Spring Offensive” by Kenichi Amaki, Matthews Asia The annual “spring offensive” or in Japanese “Shunto” is currently underway in Japan. The terms refer to the annual wage negotiations that occur in March and April between labor unions and employers. In an effort to revitalize the economy, Prime Minister Shinzo Abe has been pushing the private sector to raise worker pay and try to boost consumer spending. However, media headlines have expressed much disappointment over a slowdown in wage growth and the so-called “failure of Abenomics.” But to get a true picture of Japan’s wage situation, it is important to…