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Shinya Kotera and Jochen M. Schmittmann

unemployed rose gradually until leveling off in late 2020 and remains about 1.3 times higher than before the pandemic. Figure 7. Employment d uring the Pandemic Average annual earnings declined by 1.4 percent in 2020 due to reduced overtime and bonus payments ( Figure 8 ). For full-time workers the average annual earnings change was -1.5 percent. Part-timer workers experienced a smaller reduction of -0.6 percent, but this may reflect compositional effects as part-time workers with a lower-wage level lost their jobs, as well as special bonuses for part

International Monetary Fund. Asia and Pacific Dept

). Monthly contributions to JHIA are shared equally by employers and employees. Average Length of Hospital Stay (days) – Latest Available Source: OECD. 10. Citizen’s Health Insurance (CHI) and Elderly’s Health Insurance (EHI) are prefecture- based insurers, both exposed to demographic pressures . CHI covers the self-employed, part- timer workers, the unemployed, and retired persons aged under 75 years. In April 2018, the administration of CHI was consolidated from municipalities to prefectures. More than half of CHI’s benefit payment is supported by tax

Shinya Kotera and Jochen M. Schmittmann
This paper investigates labor market dynamics in Japan during the COVID-19 pandemic drawing on macro and micro data. The pandemic and related containment measures had a large negative impact on employment, labor force participation, earnings, and labor market mobility, although policy support through furlough schemes partially mitigated the rise in unemployment. Our results indicate that industry effects were a crucial driver of labor market outcomes for different groups of employees — women, younger age groups, nonregular, self-employed, and low-income workers accounted for a disproportional share of employment in the hardest hit industries. We also find empirical evidence for the need to improve childcare and related support, training and upskilling offerings, and teleworking availability, and the role of skill mismatches in reducing labor market mobility and resource reallocation.
International Monetary Fund. Asia and Pacific Dept
This Selected Issues explores Japan’s experiences with past valued added tax (VAT) rate increases and discusses potential policy options to mitigate the economic impact of a third-rate increase. It assesses the impact on the Japanese economy and, where possible, provides some international context. Alongside possible mitigating policies, it also discusses the importance of policy commitment and credibility, and how they can influence the macroeconomic impact of tax rate changes. Carefully designing policy measures and communicating them clearly to the public are paramount to attenuate any negative outcomes in the short term. A simple, single-rate VAT would efficiently raise tax revenues and support the government’s objective of achieving fiscal consolidation in the medium term. Assuming underlying macroeconomic conditions are favorable, the October 2019 VAT rate increase could potentially have a smaller impact on the economy relative to that of 2014 for several reasons. In order to reduce policy uncertainty and alleviate any adverse impacts from the 2019 VAT rate increase, the authorities should clearly communicate the timing and content of associated mitigating measures.