Japan’s salarymen still feel pinch despite Abenomics 安倍經濟學奏效 日本上班族仍經濟拮据

Tue, Jul 23, 2013 - Page 10

Japan’s army of dark-suited salarymen are scraping by on a monthly allowance from their wives that is less than half what they got in the 1980s bubble years, a survey has shown.

Despite frequently being the sole breadwinner at home, many Japanese husbands hand over their entire pay packet to the woman of the house, who manages the family’s bills and balances the books.

During the heady days of the late 1980s, when the country was awash with cash, husbands enjoyed the high life with 80,000 yen (US$803) a month.

The average salaryman in today’s more frugally minded Japan, however, has just 38,457 yen to play with, Shinsei Bank said in a recent study. The bank, which has surveyed men’s allowances since 1979, said the reading this year was the lowest since 1982.

To keep a lid on expenses, the average man budgets 518 yen for lunch every day, data from 1,000 men aged between their 20s and their 50s showed.

“Despite the Abenomics effect, which has seen corporate performance improve and stock prices go up, salaried men have not yet felt it in their pocket,” the bank said.