Japan's labor shortage worsens

Dec 16, 2017 | News On Japan

Dec 16, 2017 (NHK) - The latest Tankan survey by the Bank of Japan shows the country's labor shortage is the worst that it has been in over a quarter of a century.

BOJ officials asked some 11,000 companies in Japan if they have a sufficient number of workers. The index for all companies came in at minus 31 points. That's down by 3 points from the previous survey, taken 3 months earlier. It's the worst result in 25 years and-10 months.

A negative figure indicates a labor shortage. It's the difference in ratio between firms reporting excessive staff levels and those saying they need more workers.

The index fell further into negative territory regardless of company size or industry. The figure for large companies dropped 1 point to minus 19. The number for small and midsize firms slid 2 points to minus 34.

Many businesses are trying to cope with labor shortages by automating their operations and boosting efficiency.

At the same time, there have been more cases of bankruptcy due to the shortage of workers.

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