What does the drop in Japan’s non-regular jobs mean?
Recent data about Japan’s labor market signaled a drop in non-regular jobs after their growth over the past two years, while full-time jobs soared for the first since 2008.
While Japan enjoys very low unemployment rate of 2.8 percent, most of the hiring has been in favor of temporary or part-time workers.
Regular jobs edged up by 260,000 in March from a year earlier, while temporary jobs, increased by 170,000, yet it is too early to judge that the trend has reversed towards full-time jobs.
Currently, non-regular jobs represent third of the workforce, while recorded 37.5 percent of the workforce in 2016, marking the highest record since 2002.
“Regular workers get paid about 53 percent more than non-regular ones on a comparable monthly basis,” according to Bloomberg.
A reverse in the trend would give an impetus to the sluggish consumer spending.
job-to-applicant ratio reflects the higher demand by employers to part-time
jobs than for regular ones.