During the 1980s, the gender-based wage differential in Japan remained relatively steady, with the average wage level for women across industries/economic sectors at approximately 56 percent of the average wage level for men. In the 1990s, the average wage level for women across industries/economic sectors in Japan improved to approximately 62 percent.
The Japanese economic juggernaut that developed and surged ahead following the end of the Second World War encountered severe problems in the early-1990s, when the "bubble economy" that began in the mid-1980s collapsed. The Japanese economy has never recovered from this collapse. In the last-half of the 1990s, unemployment became a serious issue for Japan, although the levels of unemployment in Japan in the 1990s never reached the levels reached in North America and Western Europe during period of economic difficulty, and, at times, were not as high as the levels considered to be "normal" in North America and Western Europe. Nevertheless, the levels of unemployment reached in Japan were alarming to the Japanese and were accompanied by increasing inequality in wage levels.
The profitability of Japan's leading corporations was severely deflated by the collapse of the bubble economy. These corporations suffered losses because of participation in arbitrage and high-risk investments. The securities markets in Japan collapsed in the wake of the deflation of the bubble economy. The bubble was finally punctured when the Finance Ministry of the Japanese central government and Bank of Japan Governor Yasushi Mieno refused to prop-up the over-inflated asset prices in the early-1990s.
The "Bubble Economy" of Japan developed in the decade of the mid- to late-1980s and expired in the early-1990s. The Bubble Economy in Japan was essentially a wildly speculative boom that eventually collapsed as all such speculative booms eventually do.
In the late-1980s, speculation became the byword...
Differentiation in Wages and Developments in the Japanese economy. (2000, January 01). In LotsofEssays.com. Retrieved 06:19, April 28, 2015, from http://www.collegetermpapers.com/viewpaper/1303752860.html