Students graduating from universities and other schools in spring 2010 face severely diminished employment prospects, according to an Asahi Shimbun survey of 100 large corporations.
Many employers plan to curb job offers for new graduates as the global financial crisis overshadows their earnings outlook।
The tough job environment will mark a reversal from the workers' market in recent years, when companies aggressively hired new recruits।
The Asahi Shimbun survey conducted from late October to early November found that 15 companies plan to reduce the number of new hirings in spring 2010 from the previous year.
Only two respondents plan to increase the number of new recruits।
The Asahi Shimbun annually conducts a similar survey around the end of March, when companies finalize their employment plans for the following spring।
While the findings of the latest survey cannot be compared directly with those studies, it marks the first time in seven years that more companies are reducing job offers than increasing them.
In the latest survey, as many as 39 companies said they have yet to decide on the plans for spring 2010, when current university juniors graduate, and 44 others said they plan to hire around the same number of new recruits।
Many of the companies that plan to reduce the number of new recruits cited deteriorating economic conditions।
An official at a chemical company said the company will take on fewer graduates due to the uncertain economic outlook।
An official at an electronics manufacturer said the company will have to cut down on new recruits if the current economic conditions continue।
Meanwhile, a company in the service industry said the firm will be adjusting the pace of employment to ordinary levels after years of expansion।
The number of companies reducing job offers will likely increase, however।
Some of the respondents that are still undecided about their 2010 hiring plans added that they are bracing for tough employment situations or that the best they can expect is to keep job offers around the same level as the previous year।
Still, a number of respondents said they planned to continue hiring new recruits in the medium to long term।
Many Japanese companies have disproportionately few employees in certain age brackets, because they squeezed hirings in the years after the collapse of the late 1980s asset-inflated economic boom।
An official at an electronics manufacturer said that even if the company decides to reduce the number of new recruits, an "extremely low figure" will be out of the question।
An official at a securities house said the firm needs a certain number of new recruits every year because the brokerage business depends on human resources।(IHT/Asahi: November 17,2008)
http://www.asahi.com/english/Herald-asahi/TKY200811170090.html
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