Japan Labor Shortage Seen Expanding to 3.84 M. Workers in 2035

   Tokyo, Oct. 17 (Jiji Press)--Japan's labor shortage will reach 17.75 million hours per day in 2035, equivalent to 3.84 million workers, an estimate by Persol Research and Consulting Co. and Chuo University showed on Thursday.
   The labor shortage is estimated to expand 1.85-fold from 2023, reflecting a decline in working hours per person as a result of work style reform and other initiatives, despite an increase in the number of workers.
   The number of workers is projected to increase from 67.47 million in 2023 to 71.22 million in 2035, as more women and elderly people are expected to work. Of the total, the number of foreigners is forecast to grow from 2.05 million to 3.77 million.
   On the other hand, annual working hours per person in 2035 are expected to decrease by 8.8 pct from 2023, due to an increase in the proportion of elderly workers, as well as work style reform.
   To address the labor shortage, Persol Research and Consulting pointed to the need to correct the situation in which people adjust working hours to reduce tax payments and social security contributions, increase the number of people with side jobs, and improve productivity, including through the use of generative artificial intelligence.

(2024/10/17-20:23)

To read a full story, please click here to find out how to subscribe.