Economy
If you plan to work in Japan, it is still trying to emerge from two decades of slow growth, but is still one of the largest economies in the world. The World Bank (2012) ranked the country’s nearly US$5.9 trillion Gross Domestic Product (GDP) third globally. Japan ranked fifth out of 142 countries on the Legatum Institute Economy Sub-Index (2013).
The global recession that began in 2009 and the deleterious effects of the disastrous earthquake and tsunami that struck the country in 2011, which cost Japan nearly $300 billion, have buffeted Japan’s economy. Japan is the world’s third largest automobile manufacturer and has the largest electronic goods industry in the world. It is also known for innovation, ranking as a leader in patent filings. Japan is the fifth largest exporting nation globally, nearing US$800 billion in exports of products such as motor vehicles, semiconductors, iron and steel products and auto parts representing great opportunities to work in Japan. The country’s major export partners are China, United States, South Korea, Hong Kong and Thailand.
Japan also is the world’s largest creditor nation, consistently carrying an annual trade surplus. It is second globally in the amount of private financial assets held. Japan, however, continues to struggle with economic challenges that include deflation, reliance on exports for growth and an aging and shrinking population.
The Japanese government has raised its estimate of GDP growth in 2013 to 2 percent, banking on new stimulus programs. Unemployment in the country is low by world standards, only 4.2 percent, and inflation is negative at -0.1 percent.
Finding a Job
The recession that followed Japan’s devastating 2011 earthquake and tsunami strongly impacted many sectors of the job market, but stronger economic growth is forecast for 2013. On a positive note, unemployment in the country historically has been low and is now just above 4 percent, one of the best in the world. If you speak Japanese, you certainly will have an important edge on your competition. Experience also is a major hiring factor in Japan, so emphasize your skills and experience. Corporate jobs with large foreign companies that have offices in Japan’s major cities may provide the best opportunities. Tokyo, Yokohoma, Osaka, Nagoya, Sapporo, Kobe and Kyoto are good bets for your job search. Opportunities are strongest in electronics, robotics, motor vehicles, communications, food processing and chemicals industry sectors. Recently, nanotechnology, biotechnology and alternative energy industries have been strong.
Job search strategies you can use in Japan are similar to the U.S. Industry associations are an excellent way to find out about opportunities to work in Japan in your field. Check the job listings in local newspapers as well as craigslist for individual cities. The craigslist link below allows you to search eight cities throughout the country. Be sure to send unsolicited applications to targeted employers and contact temporary work or staffing agencies online or onsite. Most importantly, check out local online forums and bulletin boards in the area you have chosen. Locals can be a great source of opportunities.
To get you started, here are a few websites that may help you in your job search:
Tokyo Connections
Job Seek Japan
Starting a Business
Japan’s emphasis in 2013 to stimulate its economy for more rapid growth is good news for those wanting to start a new business in the country. The world’s third largest economy still holds plenty of opportunity. The World Bank in 2012 ranked Japan twenty-fourth out of 185 countries on its Ease of Doing Business Index, but just one hundred and fourteenth on its Ease of Starting a Business Index. Japan’s best rankings were first in Resolving Insolvency, nineteenth in Trading Across Borders and nineteenth in Protecting Investors. Japan ranked twenty-fifth out of 142 countries on the Legatum Institute Entrepreneurship and Opportunity Sub-Index (2013). Legatum also reported that business start-up costs in Japan as a percent of Gross National Income was a low 7.5 percent versus the global average of 36.3 percent.
For an excellent, detailed overview of business opportunities in Japan, read the Country Commercial Guide for Japan, which is prepared annually at U.S. embassies through the combined efforts of several U.S. government agencies. The guide presents a comprehensive analysis of Japan’s commercial environment from economic, political and market analyses.
To help you start a business in Japan, the World Bank offers this step-by-step Japan business start-up process. It also provides a more detailed report on doing business in Japan (PDF).
For specific information on start-up assistance from Japan’s government, visit the Ministry of Economy, Trade and Industry.