Back to business in Japan
The beginning of April marks the new year in Japan. Students head to school in new, crisp uniforms, and college graduates known as freshers head to their new jobs. Although this year is perhaps a bit different than years past.
According to Asahi 44% of Japanese of Japanese companies are planning to reduce their hiring next year. This is a pretty shocking development coming from a country that is also in the midst of a population induced labor shortage.
and things just keep getting worse. According to the International Labor Organization, Japan ranks at the bottom for jobless benefits.
An ILO report that covers eight major countries including emerging economies said Brazil has the highest share of jobless workers receiving no benefits at 93 percent, followed by 84 percent for China, 77 percent for Japan and 57 percent for the United States and Canada. The share slips below 20 percent for France and Germany.
The high Japanese share of jobless workers receiving no unemployment benefits was taken to indicate that Japan has failed to develop safety nets for temporary and other nonregular employees while accelerating deregulation of temporary staffing services.
the lack of the government to prepare for such an environment is going to have lasting effect, both economically and sociologically in Japan for decades to come.