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Economy

Labor market reform needed for Japan's sustained growth: IMF

High-ranking official says government should maintain fiscal, monetary stimulus

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  © Reuters

TOKYO -- The Japanese government needs to move forward with labor market reforms to increase productivity and boost wages, the International Monetary Fund said Monday in the concluding statement of its annual review of the Japanese economy.

"Closing gaps between regular and non-regular workers, increasing mobility across firms, and 'equal pay for equal work' are key to boosting overall wages," David Lipton, the IMF's first deputy managing director, said in Tokyo at a press conference following release of the report.

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