Young people in Asia don't want factory jobs, so companies are raising wages and adding perks. That's because factories across Asia that have traditionally produced many of these goods are struggling to find workers, The Wall Street Journal reported. In China, manufacturing workers' wages have more than tripled over the past decade, and factory workers in Vietnam, Malaysia, and Japan, have seen notable pay bumps as well. Companies like the Barbie manufacturer Mattel, the toy maker Hasbro, and Nike are facing elevated labor costs in Asia that have contributed to price hikes. Mark Perry, University of Michigan economistExperts attribute Asia's factory labor shortage to a variety of factors.

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Persons: it's, Manoj Pradhan, Mark Perry, Julian Zhu, Gabriel Galvan, It's, Barbie Organizations: Service, Street Journal, Companies, Mattel, Hasbro, Nike, University of Michigan, Reuters Locations: Asia, Wall, Silicon, London, China, Vietnam, Malaysia, Japan, Mexico, America