96 Pct of New University Graduates in Japan Get Jobs

Economy

Tokyo, May 18 (Jiji Press)--The proportion of new university graduates in Japan who secured jobs as of April 1, the first day of the nation's fiscal 2021, stood at 96.0 pct, down 2.0 percentage points from a year before, a survey by the labor and education ministries showed Tuesday.

The drop was second biggest since the survey began in 1997. The biggest year-on-year decline in the job-securing rate as of April 1 was 3.9 points, recorded for students who graduated in March 2010, after the September 2008 collapse of U.S. investment bank Lehman Brothers, which fueled the global financial crisis at the time.

The latest survey suggested that many of the students who graduated in March were unable to land jobs they hoped, with companies in the tourism, airline and other industries hit hard by the fallout of the novel coronavirus epidemic having curbed new hiring.

The COVID-19 crisis had a serious impact on students' job-hunting activities as opportunities to collect information decreased partly because of the cancellations of corporate job seminars.

Still, the job-securing rate recovered to a certain level, an labor ministry official said, noting that the size of the drop as of April 1 shrank from the 7.0 points in the proportion of students with informal job offers as of October last year. The rate in October 2020 stood at 69.8 pct. At the same time, the official said, "We want to offer full support" to those who graduated without being able to land jobs.

[Copyright The Jiji Press, Ltd.]

Jiji Press