Ueda flags tight labour market as structural, reinforcing BOJ’s inflation challenge and keeping pressure on yen bears.
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Bank of Japan Governor Kazuo Ueda said Japan could ease its chronic labor shortage by increasing full-time employment opportunities for women and expanding the role of foreign workers. Speaking at the Federal Reserve’s Jackson Hole symposium, he noted that only about half of Japanese women are regular employees compared with 80% of men, and childcare support would need to expand to narrow that gap.
Foreign workers make up just 3% of Japan’s labor force but contributed more than half of total labor force growth between 2023 and 2024, Ueda said, adding that further increases would require broad policy debate.
He stressed that Japan’s shrinking, aging population has long pressured the economy, with nearly 30% of people aged 65 or older. While higher participation among women and seniors has helped offset demographic decline, Ueda said the room for further gains is limited. He warned that, absent a major economic downturn, Japan’s labor market will remain tight and continue pushing wages higher—one factor behind persistent inflation.
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Recent data from Japan shows:
Japan’s unemployment rate remained at 2.5% for a fourth consecutive month in June, 2.5% is the average over the past three yearsJapan’s consumer inflation stayed well above the BOJ’s 2% target even as price growth moderated, supporting market speculation that another rate hike may come this year This article was written by Eamonn Sheridan at investinglive.com.Hence then, the article about boj s ueda more women foreign workers needed as aging japan faces labor squeeze was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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