Labor shortage hits Japanese companies, 71% of Japanese firms face short of workers
 Source : NewsBharati  Date : 01-Feb-2018

Tokyo, February 1: Japan’s ongoing crisis of labour shortage worsens. Some 71 percent of Japanese companies are facing worker shortage. This is an impact of low birth rate, aged population which Japan is facing lately. Japan’s Ministry of Finance released the survey was conducted from late November last year to mid-January.

 
From late November last year to mid-January the survey was conducted to which 1,341 companies ranging from large enterprises to medium and small businesses. Fifty-nine percent of the firms surveyed stated that "the hiring process is not progressing. 52.1 percent affirmed that the labor shortage had worsened since the last survey in October 2016.

Overwork is already a major problem in Japan. This slow hiring process is putting more work load over existing employees through overtime and working on days off. The lack of personnel had caused costs to rise to few companies compared to the affect of over work load.

Due to labour shortage Japan’s reliance on foreign workers have increased. The population of foreign workers set a record of about 1.28 million in late October. The total of 1,278,670 is 18 percent higher than last year and the highest since comparable data became available in 2008.