Japanese employment: cracks in the system

Article Abstract:

There are indications that the system of lifetime employment commonly associated with Japanese corporations is beginning to break down. During the 1960s and 1970s, Japan's economy grew rapidly enough to absorb the 'baby boom' generation that was born after the Second World War. As this generation begins to move into middle management, the Japanese economy is slowing down; as a result the seniority system is coming under both economic and demographic pressure. The personnel problems that Japanese corporations will face in the future include: a surplus of older employees with obsolete skills, a shortage of workers who have non-traditional skills and qualities, and competition from foreign corporations that offer better salaries and faster advancement than Japanese corporations.

Statistics, Job security, Working class

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Yen - weaker on political worries

Article Abstract:

The yen has depreciated against all major currencies as a result of the sex and financial scandals plaguing the ruling Liberal Democratic Party (LDP). The depreciation of the yen has no economic basis, but is rooted in the threat of leftist parties coming to power in Japan. The Socialist Party recently won an upset victory over the LDP in Japan's upper house, increasing the prospects of an early general election. The Japanese economy in excellent shape, and after the fears of the political consequences from the scandals cool and the LDP regains its political hegemony over Japan, the yen should make significant gains against other major currencies.

Analysis, Economic policy, Liberal Democratic Party (Japan), Yen (Japan)

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