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Employment Adjustments in Japanese Firms During the Current Crisis
Author(s) -
Chuma A. Hiroyuki
Publication year - 2002
Publication title -
industrial relations: a journal of economy and society
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.61
H-Index - 57
eISSN - 1468-232X
pISSN - 0019-8676
DOI - 10.1111/1468-232x.00268
Subject(s) - recession , shock (circulatory) , great recession , economics , financial crisis , macro , business , labour economics , demographic economics , macroeconomics , medicine , computer science , programming language
In this article we describe the severity of the current recession and depict the resultant harsh modes of employment adjustments. As a benchmark for comparison, we refer as frequently as possible to the recession that followed the first oil crisis. Macro indices include the extent of various employment adjustments,[Note 1. “Employment adjustment” refers to the various methods used by ...] the roles of “shock–absorbing” industries, and the impact of public employment polices. As sources of micro–level data, we examine some 30 publicly owned, large–scale firms during both the current recession and the 1970s crisis. To further clarify the situation, we detail employment adjustments carried out by two “seriously wounded” firms.