Japan Jobless Rate: Updated September 5, 2024.

 

Japan jobless rate hits 2.7%, 1st rise in 5 months

Article Source:  https://mainichi.jp/english/articles/20240830/p2g/00m/0bu/014000c

Ideas:

Japan has always been a country with good employment numbers and even better with low unemployment rates. But the numbers don't show the real picture, as since 2008, like other countries Japan has moved to more part-time workers and contract workers, which usually don't get full benefits, as way to lower company costs.

The challenge with changing job in Japan it takes a long time to find a new job, but some people are wiling to go through the process and they do eventually find jobs.

The Japanese government wants to stream-line the process to make a more fluid and flexible society so that worker can easily change jobs with no hassle from current employers and less paperwork related to new jobs.

Right now Japan is experiencing a labor shortage, so there should be plenty of openings to choose from for those who quit there jobs, and look for other jobs.

Companies are in a race to hire the best or just to hire enough workers for their company. They have to increase their wages to entice new workers and also improve their benefits, and provide a better work-life experience for their workers.

The challenge, these days, with many companies, is they need to cater to the younger workers to get them to work for them, if they are a traditional Japanese company.

The generation Z workers are not going to do what their parent did in the companies, work long hours or even work on weekends. This is a new era and companies, as much as possible, need to transform into a 21st century company and not a 1950's style company.

There have been past articles suggesting than younger workers are leaving their jobs soon after being hired because they don't get along with the company managers. That can be a two-way street as both sides need to adjust to each other, as managers need to understand the younger workers, and the younger workers need to understand more fully their responsibilities in the company.

The jobs availability ratio doesn't really show the real picture, but maybe it is. For example, is the 124 jobs available for every 100 job seekers just full-time jobs with good benefits, or does it also include part-time and contract jobs which don't provide the same benefits.

Also many service type job, now, to reduce costs, only hire or mostly only hire part-time workers as a way to maintain their profit margins, as service-type companies usually have very thin profit margins and can't afford to have a lot of full-time workers.

Again, Japan is experience a labor shortage in many sectors and the situation doesn't change it could get worse. 

But one thing that can be improved on is getting rid of the mandatory retirement age of 65 as many older workers in Japan want and need to keep working, but Japan seems, like South Korea, seems to be stuck back in the 20th or even the 19th century and maybe they think older workers can't do the work or are not very productive.

In reality, many older workers are more responsible compared to the younger generation of workers, as they come to work on time, they do what they need to do and don't complain about the work, compared to some groups.

Keeping older workers in the workforce, who those who want and need to work also will help with the social security or pension system and those who continue to work pay into the system and will not receive any benefits until they leave.

Companies can also develop a different pay system for older workers who reach a certain age, which keeps them in the company and companies will not suffer labor shortages or as much.

Have a nice day!