The doors open only once. That’s how people often describe Japan’s hidebound hiring system, in which college students have their best shot at landing a coveted salaried position in the year approaching graduation. Those who successfully navigate the arduous corporate recruiting process will be rewarded with a secure place on the corporate ladder, along with regular raises and promotions. The rest are largely condemned to flit from one low-paying job to the next, with little avenue for advancement and zero job security.
The divide was solidifying when I finished college in 2000. It had been a decade since Japan’s bubble economy had collapsed, and employers drastically scaled back new hires to protect older workers. The labor market had entered an “ice age,” according to media reports.
Having watched my older brother struggle to establish himself in a career, I chose to emigrate to the U.S. to pursue my interest in journalism. Over the years, I read stories about the travails of the so-called lost generation. Faced with limited job prospects, many ended up single and childless. Japan’s 2015 census revealed there were 3.4 million people in their 40s and 50s who had not married and lived with their parents.
It was a brutal knife attack in May 2019, in which the perpetrator was a man in his 50s who had been out of work for many years and living with relatives, that got me thinking about profiling people whose lives had been disrupted by the employment ice age. From a news perspective, the timing was propitious: A month after the attack, the government unveiled plans to help those who were shut out of the labor market in their 20s land full-time positions, with a goal of assisting 300,000 over three years.
This story is from the October 05, 2020 edition of Bloomberg Businessweek.
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This story is from the October 05, 2020 edition of Bloomberg Businessweek.
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