Career Testing
Career Testing
Career Testing
WORKING ABROAD / JUN. 07, 2013
version 17, draft 17

The Economy of Japan

japan economy
npr

Japan is a key global player with a strong financial and market presence. It has the third-largest economy in the world with regards to nominal GDP ($5.869 trillion, 2011), and the fourth-largest in terms of purchasing power parity ($4.497 trillion, 2011). Moreover, it is the fourth-largest exporter and importer in the world. It is therefore, no surprise that Japan is one of the most sought-after places to work for aspiring job seekers around the world.

Labor Force

The Japanese labor market is highly competitive. It consists of 65.93 million skilled workers, whose vast majority is employed within the services sector (69.8%). The rest are employed in the industrial sector (26.2%), and in agriculture (3.9%). It is important to note that the unemployment rate in Japan is low at 4.6% (2011).

Industries

For skilled individuals interested in securing employment in the industrial sector, Japan is highly regarded, as it boasts a large industrial capacity. The country is home to some of the most prominent and state-of-the-art producers of electronic equipment, motor vehicles, machine tools, ships, steel and nonferrous metals, and processed foods in the world.

Among the most well-renowned and technologically advanced enterprises that offer great career opportunities are Nintendo, Toyota, Canon, Honda, NTT DoCoMo, Sony, Panasonic, Takeda Pharmaceutical, Toshiba, Sharp, Seven & I Holdings Co., Nippon Steel and Nippon Oil. It is remarkable that Japan houses 326 companies of the Forbes Global 2000 (2006).

Research & Development

Japan is highly appealing for individuals interested in research and development. The country is a leader in scientific research, especially in machinery, technology and biomedical research. Its highly-qualified researchers share a $130 billion budget, which is the third largest in the world. Moreover, the country is a global leader in fundamental scientific research. Japan contributes greatly to the fields of automobiles, machinery, earthquake engineering, optics, industrial robotics, chemicals, and semiconductors. The country is ranked-first in robotics production, while holding more than half of the world’s industrial robots.

Financial Services

For those specialized in finance, private banking and wealth management services, Japan is a great option for employment, as it has some of the world’s largest and more prominent banking institutions, while the Tokyo Stock Exchange is regarded as the second-largest in the world by market capitalization.

Agriculture

Individuals seeking employment in agriculture have high chances of landing a job in Japan. They can find a number of job openings in fruit and vegetable production and cultivation, while those interested in stockbreeding can secure employment in poultry, pork, eggs, dairy products and fish farming. It is notable that Japan is accountable for 15% of the world’s fish catch.

Japan is one of the most technologically advanced countries in the world, with high development potentials. Job seekers who are interested in working in a highly competitive and profitable labor market think of Japan as one of the greatest places to secure employment in.

 

 

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