Friday, March 20, 2009

Economy: Japan plans $15.6 billion jobs package

The Gulf Today reports, Japan plans a 1.5 trillion yen ($15.6 billion) jobs package, the labour minister said on Thursday, as a new survey showed manufacturer sentiment falling to a record low, suggesting more jobs may be cut.

The package follows a wave of layoffs and signs that firms will curb hiring and freeze workers' salaries this year as the global financial crisis takes its toll on the world's No. 2 economy.

"The priority now should be on protecting jobs," Labour Minister Yoichi Masuzoe told a news conference.

"We want to announce measures for jobs on the scale of around 1.5 trillion yen," he said of the plan, which media reported included money to retrain unemployed people.
Published by Mike Hitchen, Mike Hitchen Consulting
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