finance
Japan's Prime Minister Instructs Review of Working Hours Systems
Japan's government is accelerating a review of working hours systems, including the discretionary labor system, to address stagnant productivity. The initiative was discussed at a growth strategy meeting. The goal is to increase labor productivity by 15% over five years through reforms and investments.
The Japan TimesAudio version
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Japan's Prime Minister Sanae Takaichi instructed relevant ministers to speed up the review of systems related to working hours, including the discretionary labor system, according to The Japan Times. The instruction occurred during a meeting of the Japan Growth Strategy Council on Wednesday, where participants discussed labor market reforms aimed at strengthening the economy.
The government has set a target to raise labor productivity by 15% over the next five years. Japan's annual labor productivity growth has remained at around 0% in inflation-adjusted real terms in recent years.
The government plans to achieve higher productivity growth through investments in human capital and labor market reforms, as reported by The Japan Times.
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