A report on life in various countries put out by the Organization for Economic Cooperation and Development in October offers a great deal of insight into life in Japan in comparison with other developed countries. The report, published biannually, is an important way of considering life beyond economic metrics and government statistics. It found that Japanese life satisfaction overall is below the OECD average.
Japan is relatively strong in many areas of well-being, though. Average household disposable income is close to the OECD average, though overall financial wealth is among the highest. One big problem in Japan is that fixed costs like rent and groceries chew up a relatively large percentage of household budgets for most families.
Japanese employees continue to earn less than workers in other OECD countries. However, they have much higher job security. That trade-off has been a traditional one in Japan, but as workplaces change and changing jobs no longer carries the stigma it once did, workers may no longer be so willing to accept that compact.