People, Skills, and Employment

Abstract

Abstract ‘People’ are supposed to be at the heart of Society 5.0 and ‘new capitalism’, but that has not been reflected in investment, either by the government, or by companies. Efforts to expand the workforce in an age of population decline mean attracting more women, elderly, and non-Japanese into the workforce, but this poses significant challenges. It also requires the participation of labour market intermediaries. The second section looks at the corollary of increasing labour market diversity, namely reforming ‘Japanese style employment’, encompassing Abe’s work-style reforms, and the ‘new trinity’ labour market reforms (2023) of reskilling, mobility, and job-based wages and employment, as well as a fourth element—‘respect for diversity and addressing disparity’. Covid-19 and telework is briefly considered, and the final section looks at Keidanren’s proposal to rebuild the middle class, government investment in reskilling, and preparing the education system for Society 5.0.