Keio University's Shirai Sees Japanese Labor Shortage

The video discusses Japan's economic growth, labor shortage, and stagnant wage growth. Despite a positive output gap and low unemployment, wages are not rising due to structural labor issues and reliance on part-time workers. Real consumption remains stagnant as real wages have not increased since 2012. The video explores potential policy measures, including targeted wage growth strategies and corporate sector involvement, to address these challenges.

What role does consumer confidence play in household spending according to the discussion?

What measures are suggested to address the low wage growth in Japan?