Shrinking, Aging Pool of Workers Push Japan to Find New Ways to Fill Jobs
- Labor shortage seen tripling by 2040 as population shrinks
- Businesses are redefining work to accommodate older staff
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Japan’s shrinking and aging population is spurring efforts by businesses to find new ways to keep the elderly employed for longer, as they seek to address a chronic and expanding labor shortage.
Earlier this year, the government committed ¥3.5 trillion ($23.6 billion) on measures to increase the birthrate, but the shortfall in available workers has been challenging employers for some time. Although Japan has taken steps to relax immigration controls, that hasn’t been enough to make up for a shortfall.