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Havish Gupta
Figuring Out • 7m
Why Japan got the worst job culture and is dying because of it. Inshort 1. Until 1990, Japan's economy was booming and seemed like it could surpass the West. 2. This led to a stock market and real estate bubble due to easy loans. 3. The bubble burst in 1990, leading to an 11-year recession. 4. Japan's hiring system only recruits fresh graduates for lifetime jobs. While it's not a written rule, it's their culture. 5. During those 11 years, no one was hired, and about 2 crore graduates were left jobless permanently. 6. Now, those 2 crore people rely on their parents or do low-level jobs, with no families, leading to Japan's population crisis. This group is called Japan's "Lost Generation" and everyone who remains unhired basically becomes part of them.
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