March 2023 5th issue: Employment adjustment subsidies hinder the mobility of human resources
Employment maintenance policies based on employment adjustment subsidies in Japan are said to hinder the mobility of human resources and hinder structural reform in Japan. If workers continue to be hired by companies that have shrunk their business or companies in declining industries, productivity in Japan is likely to decline. On the other hand, it has been pointed out that people are not attracted to growing industries, and that this is one of the reasons why Japan misses opportunities for economic growth. Employment adjustment subsidies are said to be one of the reasons why Japanese wages are kept low.
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