Issue link: https://read.uberflip.com/i/1514798
ManpowerGroup: Global QMR Q4 2023 | 12 Strategic Update on APAC • The Organisation for Economic Co-operation and Development (OECD) reports that abolishing mandatory retirement will be key to Japan securing the workers it needs amid a population decline. Japan's workforce totaled 66 million people in 2023, including foreign nationals. The OECD predicted that the figure will roughly halve to 32 million in 2100 if Japan's fertility rate remains at the current level of 1.3. But reforms to increase employment among seniors, women and foreign nationals -- such as by abolishing mandatory retirement -- could lift the number of workers to 41 million. The figure is seen topping 52 million if Japan also achieves its fertility rate target of 1.8. Of the OECD's 38 members, Japan and South Korea are the only countries to let companies set a mandatory retirement age of 60. Mandatory retirement let Japanese companies clear the way for younger workers back when lifetime employment was the norm. But more businesses are shifting to a job-based approach to employment, focusing on their workers' specific responsibilities and performance over seniority. To promote employment of seniors, the OECD called for efforts to ensure that permanent, full-time employees and non-regular workers receive equal pay for equal work. The report called for reforms to remove obstacles for female and foreign workers as well. • Gig workers in India gained a significant victory in their ongoing fight for labor rights and better working conditions. The Rajasthan Platform Based Gig Workers Act 2023 proposes to set up a social security fund by imposing a welfare tax of 1%-2% on every transaction made by a customer on apps that fall within its ambit, like food delivery and ride sharing. State government grants and contributions by gig workers will also be pooled into the fund. The law also aims to create an online database of gig workers in the state by registering them and the platforms they're associated with; set up a system to address their grievances and a welfare board to monitor and enforce rules and fine aggregator platforms that don't comply. Many labor rights activists have praised the law saying it will give gig workers at least some of the rights enjoyed by those in the formal economy. As per the law, every gig worker registered on the database will be given a unique ID, which will stay the same no matter the platform they work for and will be valid in perpetuity. Worker can use this ID to check their earnings across platforms through an integrated tracking and financial management system. • The surveyed urban unemployment rate on average in China stood at 5.2% in 2023, down 0.4% from 2022. The surveyed unemployment rates of the 16-24, 25-29 and 30- 59 age groups, excluding students, were 14.9%, 6.1% and 3.9%, respectively. China's central authorities have always attached great importance to people's employment and considered the work of stabilizing employment at a strategic height. All regions of the country and government departments have prioritized the task of boosting employment and have moved to optimize pro-employment policies. Although there is pressure on the job market in 2024, the employment climate is expected to remain stable as favorable conditions are building up. The booming Chinese economy and the upgraded industrial structure will make room for job creation, and people exiting the job market will outnumber those entering the market, and pro-employment measures are expected to kick in. ManpowerGroup: Global QMR Q3 2023 | 12