Established in 2011 by ASEAN+3 Finance Ministers, the ASEAN+3 Macroeconomic Research Office (AMRO) is an international organization that aims to contribute to the macroeconomic and financial resilience and stability in the ASEAN+3 region.
Millions across Asia have lost their jobs since the COVID-19 pandemic broke out early last year. One year on, the uneven and weary path to economic recovery continues to cast a shadow on the prospects of the labor market.
As one of the most aged societies in the world with a shrinking labor force, Japan has been struggling to meet the demand for more workers. Last year, the government took the unprecedented measure to open the door for more foreign workers in order to mitigate the labor shortages in the economy.
Continue ReadingCan Foreign Workers be the Key to Unlock Japan’s Labor Shortages?
Technological advances have been key in raising sustainable income levels over the longer-term, but their potential adverse distributional effects in relation to wage growth and employment prospects can be a cause for concern.