InfoAnda - Report: Japanese welfare rolls hit record high

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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Report: Japanese welfare rolls hit record high AP - Monday, March 9 TOKYO - The number of Japanese households on welfare hit a record high in January amid mounting job losses and an ever-deepening recession, a major national daily said Sunday. ADVERTISEMENT Almost 1.17 million households received welfare benefits during the month, with new applications for government assistance jumping 30 percent from December, according to calculations by the Asahi newspaper. Strangled by the collapse in global export demand, Japan is now mired in what officials are calling the worst recession since World War II. Its economy _ the world's second largest _ shrank at an annual pace of 12.7 percent in the October-December quarter, more than triple the slide in the U.S. during the same period. Sunday's data showed that welfare applications climbed particularly sharply in regions where auto and electronics factories are concentrated. In central Japan's Aichi prefecture, home to Toyota Motor Corp. and its many suppliers, applications surged 72 percent in January from the previous month, the Asahi said. Japanese manufacturers have been extremely quick to adjust to the deteriorating conditions. Companies in recent years have hired more short-term dispatch workers and fewer permanent employees, making it considerably easier to slim down when needed. Major exporters including Toyota and Sony Corp. _ both of which are forecasting annual losses _ have reduced shifts, suspended factory lines and announced thousands of job cuts over the past few months. A recent government report estimated that nearly 158,000 "non-regular" employees in Japan's manufacturing sector will have lost their jobs between October and March. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business GLOBAL MARKETS WEEKAHEAD-Equity faith at risk, 14-yr low loomsReuters - 57 minutes ago US-BUSINESS SummaryReuters - 1 hour 5 minutes ago GM says Opel not preparing for insolvencyReuters - 1 hour 6 minutes ago Australian funds look to sell UK assets -paperReuters - Monday, March 9 New Zealand house prices fall further in FebruaryReuters - Monday, March 9 Most Popular – Business Viewed Russian media teases Clinton over 'reset' button Bleak jobs report dampens hopes for US recovery 651,000 jobs lost as US hits 25-year jobless high Zimbabwe PM hurt, wife killed in car crash: party Business groups slam German nationalisation bill View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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