Macroeconomic indicators of regular workers in postwar Japan

Abstract

ABSTRACT This article analyzes the trends of the macroeconomic indicators of regular, self-employed, and non-regular workers in postwar Japan from a retrospective approach. Our findings show that the base monthly wage of Japanese workers is about 2.29 thousand dollars in addition to the bonus paid twice per year. The 40–54-year-old age group contributes the most to the labor market because of both maturity and accumulated experiences. Its labor force participation rate represents a mean value and the average value of 82.5% and 81.62, respectively. The American employees earn higher annual revenues than their German and Japanese counterparts. The median values of annual earnings in purchasing power parity constant US dollars represented 46,568.5 USD in Germany, 37,673 USD in Japan, and 59,963 USD in the USA. The employees worked an average of 152.6 h per month in the USA, 151.72 h in Japan, and 122.2 h in Germany. The diligence and strong relationship between managers and workers explain the success of Japanese firms. Also, the tradition of respect, education, and loyalty to both the firm and family help Japanese to succeed in their career. Japanese firms maintain the dualistic practice between men and women in terms of employment and wages.