At first glance, the fourth straight year of improvement in the percentage of university graduates in Japan who were employed immediately after receiving their degrees seems cause for celebration. But the survey conducted by the labor and education ministries covering 62 four-year universities across the country is based on four dubious assumptions.
First, the survey fails to identify the percentage of graduates who are underemployed, which the Federal Reserve Bank of New York defines as those working in jobs that do not typically require a bachelor's degree. The result is a distorted picture of the real job market at a time when it is needed the most. This does high-school students and their parents a disservice because of the investment in time, effort and money they make in mapping out their future plans.
Second, the survey does not mention how many of the estimated 397,00 graduates who found jobs are working full-time. The difference in salaries and benefits between full- and part-time workers is substantial.