Loading

Search

:

Japan's Low Jobless Rate Masks Deepening Worker Despair

  • Category:Other
TOKYO = Japan's low unemployment rate on paper suggests an economy weathering the coronavirus reasonably well, but official figures belie worsening prospects for the country's army of temporary workers, who make up about 40% of the jobs market.

A rise in job losses would undermine one of the few successes of Prime Minister Shinzo Abe's "Abenomics" stimulus policies, aimed at reviving the economy.

Japan's jobless rate stood at 2.8% in June, much lower than 10.2% in the United States and 7.8% in the 19-member euro zone.

But a close look at data shows a rising number of people dropping out of the jobs race. That prevents the official jobless rate - the ratio of job seekers who are yet to land work from rising much.

About 2.4 million furloughed workers are kept on payrolls backed by state subsidies, which the government is seeking to extend beyond its end of September expiration.

"The huge number of furloughed workers suggests companies are saddled with excess labour and are under pressure to cut jobs down the road," said Hisashi Yamada, senior economist at Japan Research Institute.

"Job losses will hurt Japan's economic recovery as they spread to broader sectors in coming years, eroding households' purchasing power," he said.
Japan's economy plunged by a record pace in the second quarter as the pandemic hit consumption and exports.

In the jobs market, the pain has been felt most by those categorised as "non-regular workers," including those with low-paying, part-time jobs, who make up 38% of all employees in Japan.

Non-regular workers account for roughly three quarters of those employed by restaurants and hotels, many of which were hit hard by the pandemic, according to the labour ministry.

A government survey showed more than 40,000 workers, about 15,000 of whom are non-regular workers, have been laid off since February.
One worker in her 20s, who was employed as temp staff at a call center in Kanagawa Prefecture, quit her job in June.

"My employer would not allow us non-regular workers to work from home," she told Reuters, on condition of anonymity. "I was told that I could take time off but would not be paid, so I quit, thinking it'd be better living on unemployment insurance."

Some economists estimate the jobless rate would be closer to 4% if furloughed workers were included in the official figures.

More broadly, the downturn has affected both those at the start and end of their careers.

Over 100 university and high-school students had their job offers cancelled, about triple the number for 2019. More than 50 listed firms offered early retirement to let go some 9,300 employees, the fastest pace in eight years, separate data found.

Some analysts expect Japan's official jobless rate to rise to a record 5.5% hit during the 2009 global financial crisis.

That is a high level in Japan, where labor unions have historically accepted low wage offers to protect jobs - keeping the jobless rate low compared with other countries.

However, Nobuyuki Sato, chairman of a Japanese-style hotel inn in Yamagata Prefecture, said an end to government subsidies could force his company to start cutting jobs.

"Labor costs are a major burden to Japanese-style inns like us, as they account for 30% of overall costs," he told Reuters.




© Thomson Reuters 2020.
 
 

Comment(s) Write comment

exw5dzry14y buy online viagra <a href="https://devpost.com/savelev-daniil-2018">drugs-med.com</a> purchase viagra in canada [url=https://88yllt.com/home.php?mod=space&uid=743037]viagra soft[/url] online drugs
cialis coupon for pharmacy <a href="http://feiyanwang.cn/home.php?mod=space&uid=278290">the canada pharmacy</a> cialis or generic canada [url=https://myclc.clcillinois.edu/web/jeff_test/ttttttutoring/-/message_boards/message/39335583]canada drug companies[/url] cialis brand
generic viagra online <a href="http://www.effecthub.com/people/guidetime5">cialis canadian pharmacy</a> alternatives to viagra [url=http://g.clicgo.ru/user/guideblouse4/]london pharmacy canada[/url] cialis
    oynkgt7rqvj Web Site
  • September 13, 2022
lv7jewoq0i6 viagra in canada <a href="http://goldidear.com/home.php?mod=space&uid=15574">canadian pharcharmy online cialis</a> buy viagra online cheap [url=https://repo.getmonero.org/talkblouse1]uk viagra sales[/url] cheap cialis online canadian pharmacy
alternative to viagra <a href="https://menak.ru/user/recordbail4/">canadian drugs</a> pharmaceuticals from canada [url=https://bookingsilo.trade/wiki/How_to_Buy_Prescription_Drugs_From_a_Canadian_Pharmacy]how long does viagra last[/url] female viagra
viagra over the counter <a href="http://liumeiti.top/home.php?mod=space&uid=4828825">cialis online canada</a> canadian.cialis [url=http://btb.club/space-uid-219388.html]viagra without a doctor prescription[/url] generic viagra in canada
    xkzfn8sjbr7 Web Site
  • September 10, 2022
wuzyvuxbdps no prescription viagra <a href="https://www.blurb.com/user/platedust5">cialis generic canada</a> drapolene cream [url=http://jinmuniu.com/home.php?mod=space&uid=238349]cost of cialis at walmart[/url] viagra canada online
best price for generic cialis <a href="https://community.windy.com/user/dahliaswitch3">generic viagra free shipping</a> brand viagra [url=http://qooh.me/guidedust9]online pharmacies canada[/url] cialis from canada?
buy heroin online <a href="https://list.ly/nikitin-roman-nikitin-1996-roma">medication online</a> viagra without prescription [url=https://coub.com/talkblue5]www.cialis.com[/url] how to take viagra
    lzcoepcxmwv Web Site
  • September 10, 2022
ofssm1guk2l does viagra work for women <a href="https://www.file-upload.com/wd0trok27rl7">canada online drugs</a> canadianpharmacymeds.com [url=http://www.4mark.net/login.aspx?nexturl=%2faddlink.aspx%3f]buying cialis from canada[/url] mail order viagra
canadian pharmacy viagra online <a href="https://qnbuz.net:443/user/recordframe8">viagra.canada</a> drugstore canada [url=https://bvtt-tphcm.org.vn/cau-hoi/five-facts-about-pharmacy-you-need-to-know-10/]canadian meds[/url] medicine from canada
prescription viagra <a href="https://www.pingguobbs.com/home.php?mod=space&uid=103140">canada online pharmacies</a> drug store online [url=https://www.pearltrees.com/talkdoll9/item456869778]viagra online shop[/url] canadian pharmacy and cialis
    nrp7l7ulylp Web Site
  • September 8, 2022
rl95ha5jyms order cialis in canada <a href="http://www.drugoffice.gov.hk/gb/unigb/canadotcphar.com/">viagra generic canada</a> canadian pill store [url=https://www.ultimate-guitar.com/u/goalbit0]canadian pharmacy viagra[/url] where can i get viagra without a prescription
canadian generic viagra <a href="http://www.zjx.cn/home.php?mod=space&uid=399935">cheap generic drugs</a> drug world canada [url=https://postheaven.net/dancerblue0/exactly-how-to-buy-prescription-drugs-from-a-canadian-pharmacy]purchase viagra in canada[/url] buy viagra canada
viagra <a href="https://www79.zippyshare.com/v/jl9erNew/file.html">cheap viagra from india</a> online viagra canada [url=http://51newyork.com/home.php?mod=space&uid=179953]generic drugs[/url] where can i buy viagra
    sslgupeslf9 Web Site
  • September 7, 2022
cialis cheap canada [url=http://canadotcphar.com/]cialis online pharmacy[/url] viagra pharmacy
northwestpharmacy.com scam <a href="http://canadotcphar.com/">canadian pharmacy without prescription</a> generic brand viagra
    india pharmacy viagra Web Site
  • September 4, 2022
canadian viagra [url=http://canadotcphar.com/]viagra india pharmacy[/url] buy viagra generic
cilas <a href="http://canadotcphar.com/">cialis canadian pharmacies</a> drug online
    online pharmacy canada Web Site
  • September 3, 2022
buying viagra in usa <a href=" https://viagracnd.online# ">viagra minn</a> - buy viagra in australia online
http://viagracnd.com/# buy viagra ireland paypal
cialis viagra gr [url=https://viagracnd.online#]where can i buy viagra cheap CialisCND20Mg[/url] how much viagra should i take
    Brianfaf
  • August 6, 2021

Trackback (You need to login.)