Japan is facing a stark shortage of skilled human resources in the technology sector, even as it seeks to digitalize its economy and kickstart its lagging semiconductor industry.

Three-quarters of technology hiring managers in Japan found recruitment to be "very” or "quite” competitive last year, with a shortage of skilled candidates being the top reason, according to new research by recruiting firm Morgan McKinley. The trend is prevalent across industries as well, the report found, with 90% of the organizations surveyed also facing competitive hiring.

The report notes that Japanese employers have had to speed up their hiring process so as to not lose out against their competitors. This stands in stark contrast to the U.S., where 32,000 tech workers have already been laid off this year, and multiple job offers are still rare.