The Japan Business Federation (Nippon Keidanren) is planning to compile its own job creation measures to address the recent tide of layoffs among temporary workers by promoting green technology, Chairman Fujio Mitarai indicated in a recent interview.
"We will bring about a job recovery by stimulating new demand through technological innovation in energy-saving and environment-responsive automobiles, household appliances, homes and other things," Mitarai, the head of Japan's most influential business lobby, said.
Mitarai, chairman of Canon Inc., said Keidanren will also aim to expand the number of workers in nursing care and child care services as Japan combats a ballooning aging population and a sharply declining birthrate.
The 73-year-old Mitarai welcomed the recent government stimulus package, worth ¥75 trillion in total, saying it is "more generous than ever" and hopefully will shore up the faltering economy.
"I'd like it to be implemented promptly," he said.
"I urge the ruling and opposition parties to work together to break out of the economic crisis," Mitarai said, calling for Diet deliberations to be expedited so the second supplementary budget for fiscal 2008, the 2009 budget and other relevant legislation can be quickly passed.
Mitarai compared the current worldwide slowdown with an "inland earthquake," saying "the global marketplace has experienced an instant downturn."
He said economic conditions in Japan are "extremely severe" and suggested the downturn is likely to drag on until the end of 2009 with "production cuts spreading at an unprecedented scale and speed, especially centering on exporting industries."
In relation to this year's spring wage bargaining, Mitarai said there will be few companies that can afford to implement across-the-board raises in basic pay despite demands by labor unions for a wage-scale hike in line with recent rises in prices.
