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Job-Seekers Left Out Of Japan's Revival

posted 30 May 2013, 06:44 by Mpelembe Admin   [ updated 30 May 2013, 06:45 ]

 

Reuters Business Report - This little girl knows what she wants to be when she grows up.

But others will have to face a tough reality, especially in Japan's stagnant job market.

On the surface, things are looking brighter. The country's jobless rate has declined in recent months and it's well under the levels seen in the U.S. or Europe.

But the picture is much tougher for the young. The unemployment rate for males between 15 and 24 is almost double the overall rate.

And women fare even worse. The percentage of women in Japan's workforce is well below some other developed nations, especially in managerial positions.

Despite the growth and stock market boost brought on by Prime Minister Shinzo Abe's stimulus drive,Japan's companies remain reluctant to hire.

Abe's due to unveil another growth strategy next month that's expected to include measures to boost hiring and promote women in the work force.

If he's successful, the payoff could be huge. Goldman Sachs says closing the gender employment gap could boost Japan's GDP by as much as 15 percent.

But if the status quo continues, Japan's revival will remain tepid - and these kids won't have much to thank their government for.


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