Japan’s labor shortage remains a serious problem, with 51% of companies reporting that they do not have enough workers, according to survey results released last week.
As the labor market continues to shrink, companies have cited growing labor shortages as one of the top concerns that could cause their performance to decline. As a result, 313 companies filed for bankruptcy in fiscal year 2023.
Data from the Teikoku Databank shows that of more than 27,000 companies surveyed in April, labor shortages were most notable in the area of information technology. More than 70% of companies in the sector said they did not have enough employees, and some said that despite the continued boom in artificial intelligence technologies, they had to abandon projects because they did not have enough resources.
