Monthly wages in Japan declined by 3.8% under Kishida in November: Inflation based
Kanako Mita, Sawako Utsumi, and Lee Jay Walker
Modern Tokyo Times
Real wages in Japan declined by 3.8% in November when adjusted for inflation. This comes at a time when Prime Minister Fumio Kishida seeks to double military spending – despite the horrendous mountain of debt – and when promising to help Ukraine.
The latest contraction of 3.8% sums up how people are becoming poorer under successive Liberal Democratic Party (LDP) governments. Especially when you include recent hikes in the consumption tax in the last decade. Therefore, inflationary problems in 2022 are furthering the sense of hopelessness for tens of millions of people in Japan who are invisible to Kishida and the ruling LDP.
Kyodo News reports, “Japan’s inflation-adjusted average monthly wage dropped 3.8 percent in November amid higher food and energy prices, marking the sharpest fall in eight years and six months and declining for the eighth straight month, the labor ministry said Friday.”
The latest drop in real wages is the highest since 2014 when consumption tax impacted heavily. Hence, real wages fell by 4.1%. in this period. Therefore, a continuous problem in Japan despite implementing many stimulus packages between 2014 and 2022.
Kishida’s period in office is one disaster after another. Despite this, he further seeks to spend taxes or print more money to double the military budget. At a time when people are getting poorer, it is a disgraceful policy that lacks credibility.
Kishida will enjoy his meetings abroad with President Joe Biden of America and other world leaders. He will declare anti-China and anti-Russia statements and promise more money to help Ukraine.
Hence, Kishida puts the working people of Japan second. Thus an endless flow of coronavirus deaths since he became the leader of this country and never-ending negative economic results keep on occurring. Therefore, every month a trade deficit is announced under his watch and people are getting poorer.
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