Re: [Pen-l] Re: Japan's Recession in Perspective

["Anthony D'Costa" <promothesdcosta@xxxxxxxxx>]

It clearly is the case that Japanese corporations are providing a cushion of some sort during recessionary conditions.  One would think a cut in wages is better than no or very little wages (as in the WSJ story which LP sent out earlier).  Rationing of work in this manner is softer I think.  So notwithstanding statistical issues of how unemployment is measured the Japanese version is less harsh (and yes being laid off is a social status problem in Japan).

Anthony

On Wed, Jun 3, 2009 at 3:56 PM, JC Helary <brandelune@xxxxxxxxx> wrote:

On mercredi 03 juin 09, at 22:19, soula avramidis wrote:

Also the Japanese unemployment rate was around 5% only.

Because Japanese companies prefer to lower wages, cut hours before laying off people. Except in the case of short contract workers (the ones who have made the news in the recent months).


Jean-Christophe Helary

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Anthony P. D'Costa
Professor of Indian Studies and Research Director
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Copenhagen Business School
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