Labor Shortages, Particularly in Non-Manufacturing Industries
First written in FY2017-Q2. 10 of 14 entries say "Restated". Latest entry: FY2021-Q3.
The whole theme swung hardest in 2025: 15 of 29 companies on the "Worse" side.
21 other companies' latest entry also says "Restated".
- FY2021-Q3RestatedAnnual report
「Deterioration in the employment and income environment, with the active job openings-to-applicants ratio remaining low and total monthly cash earnings continuing to fall below the year-earlier month」
The assessment that the employment and income environment was deteriorating, with the active job openings-to-applicants ratio remaining low and total cash earnings continuing to fall below the year-earlier month, continues. - FY2021-Q2WorsenedAnnual report
「The employment environment saw the active job openings-to-applicants ratio fall to its lowest level since 2014, while total monthly cash earnings continued to fall below the year-earlier level. This deterioration in the employment and income environment weighed on consumption.」
The assessment deteriorated further, from labor shortages and an improving employment situation to a lower active job openings-to-applicants ratio, year-on-year declines in wages and a deteriorating employment and income environment. - FY2021-Q1Deterioration in the employment environmentAnnual report
「The employment environment saw a sharp decline in new job openings from March onward, total employment began to fall, and the number of people temporarily absent from work increased, although no major job cuts had become apparent.」
In contrast to the previous assessment of labor shortages and an improving employment situation, the text describes a sharp decline in new job openings, a decrease in total employment and an increase in people temporarily absent from work. - FY2020-Q3RestatedAnnual report
「However, labor demand remained strong because of labor shortages, and although the pace slowed, employment continued to increase, while real employee compensation also improved, leading to a gradual recovery in private consumption and steady domestic demand.」
The assessment that labor shortages and strong labor demand continued, while the pace of employment growth slowed, continues. - FY2020-Q2RestatedAnnual report
「Meanwhile, although the pace of improvement in the employment and income environment slowed, it continued to improve, and private consumption continued to increase.」
The assessment that the employment and income environment continued to improve, albeit at a slower pace, continues. - FY2019WorsenedAnnual report
「Capital investment remained on an upward trend, driven by strong demand for maintenance and replacement of aging equipment and for streamlining and labor-saving investment to address worsening labor shortages.」
Labor shortages are described as "worsening" and as a backdrop to maintenance and replacement, streamlining and labor-saving investment. - FY2019-Q3RestatedAnnual report
「As tight labor supply and demand continued to improve the employment situation, against the backdrop of favorable employment and income conditions」
The assessment of the external environment as featuring tight labor supply and demand and continued improvement in the employment situation continues. - FY2019-Q2RestatedAnnual report
「As tight labor supply and demand continued to improve the employment situation, companies shifted toward a more positive stance on increasing labor costs,」
The assessment of the external environment as featuring tight labor supply and demand and continued improvement in the employment situation continues. - FY2018-Q3RestatedAnnual report
「Employment continued to increase, the unemployment rate remained low, and the active job openings-to-applicants ratio was high,」
While the employment situation continued to improve, the assessment was that the recovery in real income and private consumption remained slow because it was concentrated in low-wage industries. - FY2018-Q2RestatedAnnual report
「As employment growth was concentrated in relatively low-wage industries, overall wage recovery was slow,」
While the employment situation continued to improve, the assessment was that wage recovery remained slow because employment growth was concentrated in relatively low-wage industries. - FY2018-Q1RestatedAnnual report
「However, labor shortages remained severe, particularly in non-manufacturing industries, and although the employment and income environment continued to improve」
The assessment of the external environment as featuring severe labor shortages, particularly in non-manufacturing industries, continues. - FY2017RestatedAnnual report
「The sense of labor shortages has consistently remained unresolved, and with the economy approaching full employment, the employment and income environment should have improved, but」
The assessment that labor shortages remained unresolved throughout the fiscal year continues. - FY2017-Q3RestatedAnnual report
「Employment remained tight, particularly in non-manufacturing industries, and the employment and income environment continued to improve.」
The assessment of the external environment as featuring severe labor shortages, particularly in non-manufacturing industries, continues. - FY2017-Q2First statedAnnual report
「Employment remained tight, particularly in non-manufacturing industries, while the employment and income environment continued to improve.」
The external environment for the domestic economy is described as featuring labor shortages, particularly in non-manufacturing industries.