There may be many unemployed young people in Japan, but there are also a lot of companies that can't fill their vacancies due to a shortage of talented applicants, Darryl Green, president of major staffing and workforce solution service company ManpowerGroup, said in a recent interview.

Warning about Japan's labor market, Green told The Japan Times there are plenty of openings for technical positions in Japan, such as engineers and in sales, but most people who have recently graduated from Japanese universities have no practical skills to qualify for those jobs.

"The needs of corporate Japan are not met by the young people that are being produced by Japanese education and society," Green said, adding that unless Japan acts now to address these problems, it's competitive edge will continue to erode.