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Tuesday
Jan182011

Japan: Report Shows Tough Market for College Grads

Photo Courtesy - Getty Images(TOKYO) -- A record one-third of college seniors in Japan have yet to find jobs, prompting government leaders to announce new measures to help job seekers.

The labor ministry said it would boost efforts to support job seekers, while companies that hire students would receive a three-month, $1,200 subsidy for each graduate.

Japan's unemployment rate stands at five percent - a high number, historically.

Economists say companies are reluctant to add new jobs because of the costs that come with them. Each hire is seen as a lifetime commitment, because labor laws make it difficult to fire workers in Japan.

Copyright 2011 ABC News Radio

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