Prime Minister Shinzo Abe attended the 85th May Day Central Rally held at Yoyogi Park, Shibuya City, Tokyo.
The Prime Minister said in his address,
“It gives me great pleasure today to see the opening of the 85th May Day Central Rally, an event to celebrate workers, with such grandeur.
Since the inauguration of the Abe administration, we have prioritized economic revitalization, and have promoted the three arrows of Abenomics in order to exit deflation.
By promoting the three arrows of bold monetary policy, flexible fiscal policy, and a growth strategy that encourages private sector investment, we are now steadily exiting deflation.
Unfortunately, with deflation, wages fall more than prices do. For this reason, unless we exit deflation, wages will not rise and Japan will not prosper. Therefore, we will make sure we achieve this goal of exiting deflation. This is not a question of whether you are a member of the ruling parties or of the opposition parties. Nor is it a question of whether you are on the labor side or the management side. It is also not a question of whether you are a producer or a consumer. This is a matter that concerns all of Japan and I would like all of us to continue to exert every effort to achieve this goal.
After all, the economy is finally beginning to recover.
Compared to the October-December period two years ago, the same period last year saw growth of 2.6%. The ratio of job offers to job seekers too, which had fallen as low as 0.42 following the global financial crisis, has at last risen to over one. For every job seeker, there is one job. We have in fact succeeded in creating such conditions.
Corporate profits are also improving. We have seized the chance to exit deflation, and we must not let it go to waste. To achieve this, it is important that higher corporate profits lead to higher wages.
Even during the first Abe administration, corporate profits did in fact increase. Unfortunately, that did not lead to a rise in wages. This time, I am determined to realize such a rise, no matter what. I have also sought the help of President Koga and we have created the forum of the Government-Labor-Management Meeting for Realizing a Positive Cycle of the Economy. At these meetings, we have achieved a common recognition on the need to implement initiatives to extend the improvement in corporate profits to small- and medium-sized enterprises (SMEs), to improve the treatment of workers in irregular employment, and to accept flexible ways of working.
We will continue to firmly join hands with all of you and exert every effort to ensure that all workers are able to experience the economic recovery for themselves.
In addition, I hope to make Japan a society in which all women shine. For that reason, I would like to facilitate the active role of women and ensure that by 2020 approximately 30% of leadership positions are occupied by women. To that end, we will fully mobilize measures and offer support to ensure that women are able to both raise their children and work at the same time. I pledge to make every effort to create a Japan where all women, all elderly people, and all people living with disabilities can enjoy opportunities and lead meaningful lives.
I would like to conclude my remarks by pledging to everyone gathered here today that we will exert every effort to ensure that you too will truly be glad that the Abe administration came into power. Thank you for listening.”