unemployment in Japan
NYT: Young People Feel a Chill in Japan’s Hiring Season
A decade ago, four job openings awaited each Japanese high school graduate looking for work. Since then, the number of high school graduates seeking work has plummeted by two-thirds, or 400,000 people, because of dropping birth rates. Despite this plunge, there is now barely one opening for each graduate who wants a job. In the late 1990’s, 90 percent of Japanese high school graduates who wanted a job had lined one up by late January. This year, the job placement rate fell to 75 percent, the lowest on record.
Officially, Japan’s unemployment rate is 5.3 percent. But Richard Katz, an American economist, argues that the real rate would be 8.5 percent if government statisticians counted discouraged workers, who are not currently looking for work, and part-time workers who lose their jobs. Official statistics show that young men have the nation’s highest unemployment rate, 10.7 percent.
“When the Japanese economy was booming, 10 years ago, the Japanese industry found it very difficult to hire young people, so they went after foreign workers,” said Mr. Shimada, the economist. “Now Japanese society is paying the price of not paying attention to training its young people.”
Every time you turn around there is evidence of the damage done by the government’s inaction or the irresponsibility of companies or individuals in making significant decisions surrounding the banking sector, education, labor, almost every area of Japan.
Here we see the government hiding the real impact of unemployment, with young males most impacted (see the rise of crime correlated directly to this.) The impact of not training their young people resulted in the hiring of non-Japanese to do the same work, which impacts Japan years later when their people aren’t trained do the work necessary- not to mention the fact that there aren’t the jobs in the first place.