经济复苏激活日本就业市场

The Japanese job market is taking a new turn as Japan undergoes economic recovery.

Contrary to market expectations, Japanese government revised its first quarter Gross Domestic Products upward. From its initial estimate of 5.9 percent to an annualized 6.7 percent. The surprise upward revision was attributed to a rise in corporate capital spending, and a one-time burst in consumer spending, ahead of consumption tax hike from first of April. Although experts forecast a contract of around 4% in the April to June quarter, from impacts of the sales tax, many placed hopes is sustainable economic recovery on the back of improving labour market.

Japan’s unemployment rate held steady at 3.6 percent for two consecutive months, but we are seeing an improvement of jobs to applicant ratio, climbing to its eight year high. It is an encouraging sign for possible economic recovery and recovery in corporate strength.

Many say they have not felt direct benefits from the economic recovery, but seeing gradual changes taking place.

"I hear less and less people struggling for jobs. People are starting to say the job market is improving"

"Nothing has changed for me, but my friend in construction industry say the economy has improved"

Retail, construction and service sectors in particular are seeing their strength

"We have been seeing wages increasing. So over all the labour market is tight and that will have a big impact on over all price development, and we can be rather sure that deflation is gone in Japan and now wages and increasing prices will drive the economy." Martin Shultz, senior research fellow with Fujitsu Research Institute, said.

Japan is also seeing changes in the employment structure. Some say so called the "ice age" for finding full time employments may be over

"What companies are focusing on now are young employees, handing out longer term contracts. Making them full employees, we see this is the service sector, we see this in companies like uniqlo retailers.s they really want to keep and retain young employees for the future." Shultz said.

Although we are seeing positive signs, such as in the jobs market, experts say the recovery is still a midway. The crucial structural reforms, to ensure stability are yet to be seen.