JICA predicts Japan will face a 1M foreign worker shortage by 2040 for 1.24% annual growth.
JICA, a state-backed think tank, predicts Japan will face a shortage of nearly one million foreign workers by 2040, needed to sustain targeted average annual growth rate of 1.24%. The demand-supply gap for foreign labor has widened due to slower-than-expected economic growth in countries like Vietnam, Myanmar, and Cambodia. Foreign workers, quadrupled in the last 15 years, currently comprise 3% of Japan's workforce.
July 04, 2024
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