Japan's May jobless rate flat at 2.5% as fewer leave at business year start
Ideas:
Japan has one of the lowest unemployment rates among advanced nations but it must be remembered not everyone works for name-brand Japanese company has up to 70 percent of the workforce in Japan work for either small or mid-size companies.
There is also a sizable number of workers who are contract only workers meaning they don't get full benefits and of course probably don't get the same salaries as full-time workers do in Japan.
There is at the same time a supposed labor-shortage in Japan which means its good for those who are looking for work or want to change jobs as some companies are having a difficult time finding suitable workers.
There is always a question mark as to why some workers were let go in Japan, as for the most part, Japan doesn't have normal layoffs or firings like in the western countries so it sometimes is very ambiguous to what being let go means in Japan.
At the same time, 740,000 who left their jobs voluntarily is not ambiguous as because there is a supposed labor-shortage in Japan, meaning there might be a lot of jobs available, people quit their existing jobs hoping to find a new job very quickly.
There might be 117 jobs available for every 100 jobs but that doesn't mean all jobs are full-time with good benefits as it is estimated that up to 40 percent of workers in Japan are considered non-regular workers and are not the workers who get good salaries and benefits from Japanese name-brand companies.
With that said, some or many Japanese companies, after 2008 and the global financial crisis, started to transition to hiring a lot of non-regular workers to cut costs and the practice has continued to this day.
If up to 40 percent of the workforce potentially is non-regular workers that doesn't bode well for consumer spending in the Japanese economy as non-regular workers, for the most part, are going to be concerned about their disposable incomes.
An economy is very complex and every sector in an economy is not going to up up all the time as some will be up and some will be down and that's just the situation for a market economy these days.
Its very possible that even though Japan has a supposed labor-shortage, most of or many of the better jobs have now been taken and or its quite possible that companies and their profits margins are not maxed out, for now, and they can't higher any new workers at this time.
Have a nice day!
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