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weak yen
looks
They're not joking.
https://www.tradingview.com/symbols/JPYUSD/
In the past 12 years, it looks like the yen has lost half its value in dollar terms.
I wonder what's driving that?
kagis
Ah.
The yen has long been under pressure as the Bank of Japan kept interest rates remarkably low to encourage more inflation in its economy. Only last month did it end its policy to keep its benchmark interest rate below zero.
I went to Japan earlier this year.
On one end, I was extremely amazed at how far my money went.
On the other end, watching shitty tourists treat Japan like a playground was disheartening.
Love that you Kagi'd the answer!
I once looked at a job listing for something with very specialist technical knowledge in specific programming areas, for a Japanese company based in Tokyo (pre-covid so remote wasn't really a thing yet). Pretty niche stuff and needed at least basic Japanese language skills too, so I assumed it would pay ok - even if it wasn't good or great in comparison with jobs where i was.
After conversion it worked out to be around USD$40k a year, which is probably just over 1/3 of what it would pay at minimum elsewhere. More like 1/4 or less for Silicon Valley type locations, but the rent for a tiny Tokyo shoebox is about the same price even if food is a cheaper. There was no way I was applying for that.
It isn't just about a weak yen, it's much more about hugely underpaying people.
Shit must be really bad in japan if this dude is doing OK making just over minimum wage, in the highest (or second highest) cost of living cities in canada....
Also if he calls over 40 hours a week short hours…
That made my eyebrows want to climb above my face.
I mean, compared to the sterotypical salaryman hours, it is short