Japan Univ. Students' Job-Securing Rate Dives amid Epidemic

Economy

Tokyo, Nov. 17 (Jiji Press)--The proportion of job-seeking university students in Japan graduating next March who had secured informal job offers as of Oct. 1 stood at 69.8 pct, down 7.0 percentage points from a year before, a government survey showed Tuesday.

The October rate slipped below 70 pct for the first time since 2015, as students' job-hunting activities were seriously affected by the novel coronavirus epidemic, according to the survey by the labor and education ministries.

The pace of decline was the second steepest on record, after the 7.4-point plunge posted in the October 2009 survey, conducted in the aftermath of the global financial crisis reflecting the September 2008 collapse of U.S. investment bank Lehman Brothers. Although the October job-securing rate had been rising since hitting bottom in 2010, at 57.6 pct, a seller's market for job hunters has changed drastically this year.

Companies facing earnings deterioration are moving to curb hiring. While many companies were forced to cancel their job seminars amid the epidemic, universities have been unable to provide enough support to job-seeking students, a labor ministry official said.

Of students majoring in humanities and social sciences, 68.7 pct secured informal job offers, down 7.5 points, according to the latest survey. The rate for students with science majors was down 4.8 points at 74.5 pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press