Japan’s labor shortage worsens

The Bank of Japan’s latest Tankan survey shows that more managers feel their companies are understaffed. Central bank officials measured the percentage of respondents who reported employment as “excessive” against those who categorized it as “insufficient”. The index for large manufacturers stood at minus 5, indicating a labor shortage. The figure is one point worse than the previous survey conducted 3 months ago. The index for large non-manufacturers also dropped. It went down 4 points to minus 20. The survey also shows that smaller non-manufacturers are acutely aware of a worker shortage. The figure for this group stood at minus 28, the worst since May of 1992. Government and central bank officials are monitoring the situation to see if companies will try to solve the problem through wage hikes. For some firms, an increase in labor costs may put more pressure on their management. Source: NHK Image: ZMScience Share this:TweetEmail