1、August 2024Cabinet Office,Government of JapanProvisional TranslationEconomic White Paper 2024Annual Report on the Japanese Economy and Public Finance Toward a Vibrant New Economic StageSummaryContentsThis material has been tentatively prepared to explain the Annual Report on the Japanese Economy and

2、 Public Finance.For quotations and other purposes,please refer to the text of the Annual Report on the Japanese Economy and Public Finance.Chapter 1.Macroeconomic Trends and ChallengesSection 1.Trends in the MacroeconomySection 2.Establishing an Economic Structure That Will Not Go Back to Deflation

3、Chapter 2.Overcoming Growth Constraints Due to Labor ShortagesSection 1.Status of Labor Shortages and Measures TakenSection 2.Issues Concerning Labor MobilitySection 3.Issues Concerning Foreign Workers in Japan Chapter 3.Utilizing Assets Toward an Enriched Socio-EconomySection 1.Household Financial

4、Assets and Investments Section 2.Prospects for and Issues Concerning Housing StockSection 3.Utilizing Human Capital of Elderly Workers Nominal GDP increased to a record high level of 597 trillion yen(P1,Fig 1).Corporate profits hit a record high,and appetite for businessinvestment remained strong(P5

5、,Figs 1&3).In contrast,private consumption lacks strength(P2,Fig 1)Cash and deposit holdings of the corporate sector stand out internationally.Underinvestment so far has contributed to the low potential growth rate(P6.Figs 1&2).CPI has risen in the range of 2%(YoY)since last fall(P9,Fig 1).As for th

6、e wage growth deflated by price level(i.e.real wage),hourly wages of part-time workers have increased since mid-2023,and the rate of decrease in monthly wages of full-time workers has been consistently slowing(P11,Fig 3).The nominal wage hike in the 2024 annual negotiation(shunto)hits the highest in