http://www.indiadaily.com/editorial/20807.asp
Japanese unemployement shocks the world - the deflation and depression come like mega Tsunami Sam Adelton Jul. 30, 2009
Summer bonuses at Japan’s largest companies will slide a record 25 percent this year. Staggering rise in unemployment and resultant deflation is a major problem in Japan and the rest of the world.
It is not only unemployment but the underemployment that is creating havoc in japan and the rest of the world. The wages are not able to cope up with rise in price for the same standard of living. The resultant underemployment is increasing the debt and decreasing the household assets.
The jobless rate advanced to 5.4 percent from 5.2 percent in May, the statistics bureau said today in Tokyo, higher than the 5.3 percent median forecast of economists surveyed. Consumer prices excluding fresh food, the central bank’s preferred gauge, fell a record 1.7 percent in June, a separate report showed.
This writer had correctly predicted the Financial Crisis.Had I paid heed,I would have been,richer today.
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