Urgent measures need to be implemented to stabilize employment
(From The Japan Times Dec. 8 issue)

政府は早急な雇用安定化対策を

It is becoming increasingly clear that the economy is sinking deeper. Domestic sales of new vehicles in November plunged 27.3 percent from a year earlier. The U.S. National Bureau of Economic Research found that the U.S. recession had started in December 2007. As the U.S. and European economies are unlikely to recover in a short time, Japanese export-oriented companies will suffer. The employment situation is worsening, especially for temporary workers.

The ratio of registered job openings to registered job applications in October dipped by 0.04 points from the previous month to 0.8, the lowest since May 2004. Although the unemployment rate dropped 0.3 points from September to 3.7 percent in October, it is believed that there was no tangible improvement in the employment markets since many people reportedly gave up looking for jobs.

The industrial production index for October declined 3.1 percent from September. The index for November is expected to see a 6.4 percent drop, the largest fall since the current system for taking statistics started in May 1973.

The current economic downturn is taking the largest toll on temporary workers. The labor and welfare ministry's survey shows that about 30,000 such workers will lose jobs during the half-year business period ending March 31 as manufacturing firms, including carmakers and electronics makers, plan to dismiss a large number of temporary workers. A decline in export and domestic demand is forcing companies to reduce production. The ministry also has found that about 330 university and high school students had their provisional contracts to be hired upon graduation canceled.

The government should examine what's happening at workplaces and have companies rectify any inappropriate actions they took regarding worker dismissals. It also should implement measures to stabilize employment, administer vocational training for dismissed workers and find new jobs for them.

The Bank of Japan on Dec. 2 announced emergency measures to make it easier for banks to lend more money to companies. The BOJ and the government should take additional measures to prevent a credit crunch.

景気の失速が深刻化している。10月の有効求人倍率は前月比0.04ポイント悪化の0.80倍と2004年5月ぶりの低水準。10月の鉱工業生産指数は前月比3.1％減、11月は6.4％減と過去最大の落ち込みが予測される。

厚生労働省は、10月から来年3月までに非正規労働者3万人の失業を見込んでいる。同省は企業から内定を取り消された高校生や大学生が全国で330人に上ったと発表した。

政府には悪質な内定取り消しや雇用打ち切りの是正、職業訓練や就職支援による雇用安定化を期待する。

日銀は一般企業へ貸し出し増加を狙った資金繰り緊急支援対策を決めた。日銀と政府はさらなる貸し渋り対策を打ち出すべきだ。