Japan, one of the largest economies in the world, faces a growing challenge: labor shortages. This phenomenon, which has begun to affect various economic sectors, raises serious questions about the country's future growth and sustainability.
By: Yessica Escorza, International Business Intern CCJCI
As the population ages and birth rates remain low, the consequences are becoming increasingly evident. According to the Mainichi Shimbun newspaper, it is possible that the minimum wage will rise, but small and medium-sized businesses may also go bankrupt.
Tokyo Shoko Research revealed that the number of corporate bankruptcies increased by 42.9% due to labor shortages and labor costs, especially in the service, manufacturing, and transportation sectors.
In recent years, Japan has begun to open up more to immigration due to labor shortages, leading to the creation of new programs and visas. Various immigration policies allow foreigners to work in the country, with different types of visas depending on the sector and length of employment. A program called "Tokutei Ginou" allows workers in certain sectors (such as construction, agriculture, and elderly care) to work in the country for a specific period. The Investor/Entrepreneur Visa is for those who wish to establish a business in Japan.
Causes of Labor Shortage
Aging Population:
Japan has one of the oldest populations in the world. According to government data, more than 29.1% of the population is 65 or older. This demographic aging translates into a higher number of retirements and a smaller number of people of working age.
Imagen: Prensa Latina
Low Birth Rates:
The average number of children per Japanese woman is 1.3, one of the lowest rates in the world. The country faces a constant reduction in its active population. The reasons for this low birth rate are varied, including high child-rearing costs, lack of support for families, and a work culture that makes balancing work and family life difficult.
Imagen: El Universal
Labor Stigmas:
Japan’s work culture, characterized by long hours and strong pressure for company loyalty, has led many people to opt out of the labor market. This is compounded by the lack of policies that promote a healthy work-life balance.
Imagen: Prevención Integral
Brain Drain and Globalization:
Globalization has allowed many talented individuals to seek opportunities abroad. Japan has lost competitiveness in some sectors due to the lack of skilled workers, exacerbated by an educational system that does not always align with market demands.
Imagen: WeXpats Guide
In this context, the term "Womenomics" has gained relevance as a potential solution to the labor crisis. It refers to the economic strategy aimed at empowering women and promoting their participation in the workforce, where women represent an untapped potential in the market.
This new policy is based on the idea that the economy can be boosted by incorporating more women into the workforce and that they should be rewarded with jobs and salaries that match their skills, talents, and ambitions.
Imagen: nippon.com
The government implemented measures to encourage more women to enter the market, including the creation of training and professional development programs, promoting inclusion, and giving them access to leadership positions by recognizing gender diversity in the workplace. The movement also seeks to challenge cultural norms that have traditionally limited the role of women in Japanese society.
Womenomics in Japan represents a comprehensive effort to address gender issues in the economic context, aiming not only to empower women but also to ensure a sustainable future for the country’s economy.
References
Nippon.com - Una ventana a Japón. (s. f.). https://www.nippon.com/es/
Global top | 東京商工リサーチ. (s. f.). 株式会社東京商工リサーチ. https://www.tsr-net.co.jp/global/
The Mainichi. (s. f.). The Mainichi. https://mainichi.jp/english/
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