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Japan is experiencing a catastrophic shortage of labor

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Japan is experiencing a catastrophic shortage of labor
June 30
08:00 2017

The other day was published a report from the Japanese Ministry of Labor. According to the figures promulgated in the document, the Japanese labor market can provide only 20 active job-seekers for every 30 vacancies. For the last time such a shortage of workers in the Land of the Rising Sun was observed 43 years ago, in 1974.
The index that measures the balance in the labor market turned out to be equal to 1.49%. It is calculated on the basis of the ratio of the number of open vacancies to the number of actively seeking candidates. This index has been showing an increase by 0.01% since March this year. Last time something similar was observed in the early ‘90s of the last century, at the time of explosive development of the economy of the island state. But even then the value of the index did not reach such hights.
The largest deficit is experienced by the sphere of industrial production, problems are also observed in transport and postal services.
Published data indicate the imminent problems of the Japanese economy. They are caused primarily by the fact that the population of Japan is shrinking and growing old. So, the number of Japanese who are actively looking for a job has decreased by almost 0.9% for a month.
In addition to the published labor deficit index, the unemployment rate for May was also calculated; its value amounted to 3.1%.

 

The material was prepared with the participation of  Andrey Majorov,
a leading analyst of the brokerage company CT Trade

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