Japan Is Growing But Wages Have Barely Budged. Why?

For Japan’s mission to revitalize its once roaring economy, getting wages to rise is crucial. Conditions appear ripe for fatter paychecks: the tightest labor market since the 1970s, eight straight quarters of economic growth and record profits for Japan Inc. Yet economists expect only a 1 percent pay rise this year. This would be the biggest since 1997, but hardly enough to power a consumption boost to sustain stronger economic expansion.

Source: Japan Is Growing But Wages Have Barely Budged. Why?