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Long-Term Unemployment in Japan

Author

Listed:
  • Saori Naganuma

    (Bank of Japan)

  • Yosuke Uno

    (Bank of Japan)

Abstract

Japan's unemployment rate is now historically low, but long-term unemployment has been slow to decline. Long-term unemployment in Japan, unlike that in the United States, is biased towards "young adult men." This is partly because with shifts in labor demand across industries and employment status, young adult men retrenched by manufacturers have been unable to find the same manufacturing occupations and thus remain jobless for longer periods. Moreover, many in the generation represented by the so-called "freeze in hiring period" have been able to spend more time looking for work due to support from family members. Although the impact of the long-term unemployed on nominal wages is limited, it should be noted that future income levels of the long-term unemployed may remain low, and that the lack of human capital accumulation may exert a negative impact on the growth rate.

Suggested Citation

  • Saori Naganuma & Yosuke Uno, 2016. "Long-Term Unemployment in Japan," Bank of Japan Research Laboratory Series 16-E-1, Bank of Japan.
    • Handle: RePEc:boj:bojlab:lab16e01
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    More about this item

    Keywords

    Long-term unemployment; Mismatch; Nominal wages;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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