Japan to Raise Jobless Insurance Premiums in Oct. 2022

Politics

Tokyo, Dec. 22 (Jiji Press)--Japan on Wednesday decided to raise the premium rate for jobless insurance benefits to 0.6 pct of wages for six months from October 2022 as the coronavirus crisis has strained the employment insurance system.

Finance Minister Shunichi Suzuki and labor minister Shigeyuki Goto reached the agreement in their negotiations for the government's budget for fiscal 2022 starting next April.

The employment insurance system is under strain due to an increase in employment adjustment subsidy payments to help cover leave allowances companies pay to furloughed workers amid the COVID-19 pandemic.

The labor insurance system comprises jobless benefits, child care leave benefits and the employment stabilization and skill development programs.

Premiums for both benefits are split equally between the employers and employees, while only the employers pay premiums for the two programs.

[Copyright The Jiji Press, Ltd.]

Jiji Press