735–76; and Thomas A. Mroz and Timothy H. Savage (2006), “The Long-Term Effects of Youth Unemployment,” Journal of Human Resources, vol. 41 (Spring), pp. 259–93.
The decline in household income is gradually coming to a halt, and private consumption is showing some positive movements. With a virtuous cycle in operation, the economy continues to recover gradually and domestic demand is becoming firmer. As for the outlook, Japan’s economy is expected to continue its recovery as momentum increases gradually.