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Subject
Japan's labour market.
Significance
The number of people with jobs is near its all-time high. Employment has increased in year-on-year terms for 58 straight months. The 2.8% unemployment rate is the lowest in a quarter-century, and there are more than two new jobs for every applicant. However, Japan still has a labour surplus, because many employed people work only part-time.
Impacts
Retail and other services in particular will face labour shortages.
Employers will be forced to consider enhancing job offers with higher pay, longer hours and more benefits.
By the end of 2018, higher wages will translate into higher prices as the labour pool shrinks.
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2017
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