The Bank of Japan’s Tankan survey shows a growing number of Japanese employers feel their companies are understaffed.
Central bank officials measure the percentage of respondents who report employment as “excessive” against those who categorize it as “insufficient”.
In the latest survey, the index for large companies stood at minus 15, indicating a labor shortage. The figure is 2 points worse than the previous one conducted 3 months ago.
The index for smaller businesses was also down 4 points, at minus 28. The index for companies of all sizes came in at minus 25, down 4 points. These were the worst readings in 25 years.
Employers in the restaurant, parcel delivery and construction industries seem to be especially feeling the pinch.
The tightening labor market has forced Japan’s leading package delivery firm Yamato Transport to cut some services.
Moving company Art Corporation decided to put a curb on the number of orders it receives during peak season.
Source and image: NHK