Vicious circle of low pay, business slump must end
ViewpointsMar 23, 2012
The outcome of this year’s spring labor offensive, known as “shunto,” has been bleak, with major companies in such key industrial sectors as automobiles and electronics not offering any pay increases. Offers regarding biannual bonuses have also been harsh, falling below last year’s levels at most companies.Because of the historic appreciation of the yen and the deterioration of economic conditions overseas, the business performance of the nation’s companies has been stagnant.Under the circumstan