Japan: Bridging the productivity gap

November 6, 2018

Japan: Bridging the productivity gap

As Japanese society ages it will need to rely ever more on automation and new technology to bridge the productivity gap. That creates a requirement for robots to start taking on the jobs that people used to do. Employment data and labor force projections underline the point.

The Japanese jobs-to-applicants ratio has soared while the unemployment rate has plummeted as the economy recovers from 20 years of stagnation and deflation, during which the nominal GDP actually contracted.

Meanwhile, even though more women are entering the workforce, the number of people in work will plateau at best in the next decade. Together, the combination of a tight labor market and the structural trend of an aging population create a real need for an automated future in Japan.

Miyuki Kashima, Head of Japanese equity investments at BNY Mellon Asset Management Japan

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Japan: Bridging the productivity gap

Views expressed are those of the authors stated and do not reflect views of other managers or the firm overall. Views are current as of the date of this publication and subject to change. This material has been distributed for informational purposes only and should not be considered advice for investments or a recommendation of any particular investment, strategy, investment manager or account arrangement. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Please consult a legal, tax or investment advisor in order to determine whether an investment product or service is appropriate for a particular situation. No part of this material may be produced in any form, or referred to in any other publication, without express written permission. The Dreyfus Corporation, BNY Mellon Asset Management Japan and MBSC Securities Corporation are companies of The Bank of New York Mellon Corporation.

MARK-38970-2018-10-15