Private consumption, which accounts for more than half of Japan’s economy, fell 0.8 percent compared with the preliminary 0.7 percent decline, as solid demand for daily necessities was offset by declines in spending on services.Net exports – or exports minus imports – subtracted 0.2 percentage point from revised GDP growth, as the coronavirus slammed global demand.Analysts are forecasting the economy will suffer an annualised contraction of more than 20 percent in April-June as Prime Minister Shinzo Abe announced a state of emergency and requested citizens to stay home and businesses to close to prevent the virus spreading.Although the emergency was lifted in late May, the economy is expected to recover only moderately in coming months due to the pandemic’s sweeping impact globally and at home.The Bank of Japan is likely to maintain this month its projection that the economy will gradually recover from the damage in the latter half of this year, sources said.The BOJ eased monetary policy for two straight months in April, joining government efforts to cushion the blow from the pandemic. The government has compiled two stimulus packages worth a combined US$2.2 trillion.Topics : The revised data confirmed Japan had slipped into recession for the first time in 4-1/2 years, after a 7.2 percent contraction in October-December, pressured by last year’s sales tax hike and the US-China trade war. Recessions are defined as two straight quarters of contraction.On quarter-on-quarter basis, the economy contracted 0.6 percent in the first quarter compared with an initial reading of a 0.9 percent decline.Business spending showed gains after the finance ministry’s survey earlier this month, which was used to calculate the revised gross domestic product, drew fewer respondents than usual. Spending is expected to falter in coming months.Capital spending rose 1.9 percent from the previous quarter, reversing from a preliminary 0.5 percent fall. Japan’s economy shrank less than initially estimated in the first quarter but the broad impact from the coronavirus crisis is still expected to send the country deeper into recession.A series of recent April data including exports, factory output and jobs figures suggested Japan is facing its worst postwar slump in the current quarter as the outbreak forced people to stay at home and businesses to close globally.The world’s third-largest economy shrank an annualised 2.2 percent in January-March, revised data showed on Monday, less than the 3.4 percent contraction indicated in a preliminary reading and compared with a median market forecast of a 2.1 percent drop.
Some of the teens who lost their Battle Ground Jack in the Box jobs last month because they were younger than 18 may soon head to work at another fast food chain — Burgerville.The Vancouver-based company has already hired 17-year-old Cory Gonzalez, and is reviewing the applications of most of his seven former colleagues.Portland-based franchisee Northwest Group Inc. laid off the teens soon after acquiring the Jack in the Box location, citing concerns about employing underage workers. There is no legal protection against age discrimination for workers younger than 40, and strict rules govern workers younger than 18, said Elaine Fischer, spokeswoman for the state Department of Labor & Industries.When Burgerville Chief Financial Officer Kyle Dean heard that Jack in the Box had laid off the young workers, Dean saw opportunity.“I was struck by the quality of this kid” after reading Gonzalez’s story in The Columbian,” Dean said. “He was pretty aligned with the kind of kids we are trying to hire.”Burgerville is in the process of beefing up staff to prepare for the 39-restaurant chain’s busier summer season. So the chain started reaching out. It has contacted most of the laid-off Jack in the Box workers, said Beth Brewer, Burgerville’s vice president of talent development and education.Gonzalez, who was laid off on March 7 and hired by Burgerville on March 23, considers himself fortunate to have landed a new job after two weeks of searching.