Japanese commercial workers pessimistic about the economy

Japanese commercial workers are more pessimistic than before about the future of the economy. In a recent survey, workers in convenience stores and small retail enterprises showed a decline in confidence in the economy, says Japan's English-language daily Japan Times. Workers in major department stores are more optimistic, probably depending on positive sales developments due to the warm summer weather.

Japanese commerce workers are worried about their future. Particularly those who work in small stores have less confidence in the economy than before. Department stores are still doing better.

The Japanese economy has continued to decline, badly affected by the global slowdown. Exports and industrial production have fallen, as well as investments. As incomes are falling and insecurity about employment prospects is growing, also private consumption is down.

The problems are further aggravated by an increased competition from China and other low wage countries in many industry sectors. At home, in retailing, de-regulation has opened the doors for multinational hypermarket companies, which will put increasing pressure on employment in smaller retail and wholesale enterprises.