Japan isn't a very good example because their economy has absolutely tanked because of their horrible monetary policy. Japan was in a liquidity trap caused by their low inflation for literally decades which caused their economy to grow barely 1% annually. The reason their unemployment rate is low is because they've been stuck in this rut for literally 30 years, so people have adjusted. That doesn't mean it isn't causing immense harm though. Real wages are literally lower than they were in the early 90s. https://www.economist.com/finance-and-economics/2013/03/09/w...