Japan's firm labor demand spurs outlook for wage hikes
In December, labor demand in Japan went up to its highest value for more than 40 years. It could definitely help employees demanding greater pay lifts at annual wage talks and also push stubbornly slow consumer price surge towards policymakers' inflation objective.
On Tuesday, the sturdy labor market data suggests that Japanese workers might be more likely to cautiously perceive the authorities’ call to have wages lifted by 3% or even more at annual talks with unions, thus raising the prospects for consumer spending as well as inflation to pick up.
In Japan, in December retail sales tacked on a hefty 3.6% from 2016, handily topping a median market estimate for a 1.8% soar, and the greatest annual soar since the 4.9% observed in April 2015, exactly when retail sales steeply rebounded after a sales tax leap in 2014.
The jobless rate edged up moderately because folks voluntarily left posts to search for better offers.
The level of GDP growth for Canada will be published on June 28, at 15:30 MT time.
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