Japan Labor Productivity Up 0.2 Pct in FY 2024

Tokyo, Nov. 16 (Jiji Press)–Japanese labor productivity per worker in fiscal 2024, which ended in March this year, rose 0.2 pct from the previous year in inflation-adjusted real terms, up for four consecutive years, Japan Productivity Center data have shown.

However, labor productivity “needs to increase more than 1 pct” to ensure that real wages keep rising by 1 pct as envisioned in a government target, an analyst at the think tank said.

Labor productivity, or the amount of added value created by labor, improved in the sectors of transport and postal services, finance and insurance, and information and communications.

The improvement reflected streamlining measures related to work style reform, automation in major logistics centers and the increasing use of self-checkout machines.

Yasuhiro Kiuchi, senior principal researcher of the center, sees potential for growth in the learning-support service industry.

[Copyright The Jiji Press, Ltd.]