KAS Japan Weekly COVID-19 Updates

COVID-19 and Trade Imbalances

The IMF’s latest External Sector Report finds that there is limited reduction in global current account deficits and surpluses despite a slow down in global trade.

KAS Japan Weekly COVID-19 Updates

4 August

Unemployment rate in June stood at 2.8%. It’s 0.1 percentage point down from May. Is it any good sign? Key messages include: 1. Those who lost their jobs have turned themselves into freelancers, however there’s no assurance that it will last. 2. The ratio of involuntary unemployment is rising. In Japan almost 40% of the workers are non-regular employment. 3. Non-regular workers could be targeted with termination of contracts. The unemployment rate may then become much higher. Watch the video to learn more!

KAS Japan Weekly COVID-19 Updates

21 July

Thirty-five percent of medical institutions would pay less or cut bonus as hospital management is deteriorating due to Covid-19 as people refrain from going to hospitals. Key messages include: A survey by Japan Hospitals Association in May found the profits of about 1,200 hospitals went negative in April. Covid-19 treatment hospitals were more severely hit. Their revenues plummeted. The Government of Japan must support the hospitals to avoid their services going out, which is widely shared across the political spectrum.

KAS Japan COVID-19 Weekly Updates

Remote work isn’t for everyone

A research in progress initiated by the IMF estimates that around 97.3 million workers or equivalent to about 15 percent of the workforce across 35 advanced and emerging countries are at a high risk of layoffs and furloughs.

KAS Japan Weekly COVID-19 Updates

14 July

The Government of Japan(GOJ) will finalize its annual policy #blueprint (Honebuto) this Friday (July 17). One of the key points is the government’s digitalization, which Covid-19 is pressing. Key messages include: 1. GOJ sets another twelve months to come as a focus period for its own digitalization and intend to replace paper by online. 2. Linking social numbers allocated to all the people (My-Number System) to other information is to be considered as one way to accelerate the digitalization. 3. Lessons learned for the two decades have to be well made use of. Watch the video to learn more!

KAS Japan COVID-19 Weekly Updates

ILO: Uncertain and incomplete labor market recovery

The International Labour Organization (ILO) warns of an uncertain and incomplete labor market recovery as the job crisis brought about by COVID-19 deepens. The ILO’s latest analysis released last June 30, 2020 finds that COVID19’s impact on work is more severe than previously anticipated.

KAS Japan Weekly COVID-19 Updates

7 July

Last Sunday (July 5) the sitting Tokyo Governor Yuriko Koike won the election by a large margin, however she’ll have bumpy roads ahead. Key messages include: 1. Covid-19 is again on rise notably in Tokyo. Big portions are those who work in the night life districts. A quick and effective measure is urgent. 2. Cost sharing issue on Tokyo Olympic Games postponement will be a headache. In any case, Tokyo will see a major decline in tax revenues and will probably be forced to issue bonds. 3. PM Abe may be lured to go for a snap election. Watch the video to learn more!

KAS Japan COVID-19 Weekly Updates

Updated IMF projections; bigger economic contraction than anticipated

The IMF provided downward revisions to their earlier estimates as COVID-19 has had a more negative impact in the first half of the year as anticipated.

KAS Japan Weekly COVID-19 Updates

30 June

Tokyo’s population reached 14 million as of May 1. But the rise in April went down compared to the previous months. Covid-19 is nudging people in big cities to consider their place to live. Key messages are: Covid-19 changed people’s perception on living in big cities, as a new risk. Some people have moved or consider moving out of big cities. Companies will be the key in allowing their employees to live wherever they wish under a condition of working from home. Watch the video to learn more!

KAS Japan Weekly COVID-19 Updates

COVID-19 exacerbates gender gap

The social and economic fallout from COVID-19 is disproportionately affecting women.

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