Japan crafts basic plan to support 'employment ice age' generation
TOKYO (Kyodo) -- The government on Tuesday mapped out a basic framework to support people in their 40s to 50s who fell victim to Japan's "employment ice age," with a focus on easing retirement anxieties.
One key element is to provide "safety net public housing," operated in a way that prevents aging people from being denied a home.
The government aims to compile a more detailed three-year program by the end of fiscal 2025, as many who entered the workforce during the prolonged economic stagnation following the collapse of the asset bubble in the 1990s continue to struggle with low living standards.
"Wage growth for the employment ice age generation has lagged behind other age groups. Many households have limited financial assets, making it important for them to prepare for a stable life in the future," the government said.
The government will restart a special mid-career recruitment exam for national civil servants targeting the generation in fiscal 2026, resuming the program after it ran for five years from fiscal 2020. Municipalities will be urged to follow suit.
Pledging to hike the basic pension, authorities will also work to improve access to vocational training and reskilling programs in a bid to create an environment that helps individuals develop new competencies and find steady employment.
The Japanese government designated a five-year period through fiscal 2024 as a phase of intensive support and rolled out various forms of assistance targeting the age group.
Since then, however, the government of Prime Minister Shigeru Ishiba has been criticized for failing to introduce any new concrete initiatives.
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