Long-Term Unemployment in Japan

Saori Naganuma and Yosuke Uno
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Saori Naganuma: Bank of Japan
Yosuke Uno: Bank of Japan

No 16-E-1, Bank of Japan Research Laboratory Series from 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.

Keywords: Long-term unemployment; Mismatch; Nominal wages (search for similar items in EconPapers)
JEL-codes: E24 J64 (search for similar items in EconPapers)
Date: 2016-04-13
New Economics Papers: this item is included in nep-mac
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