2024 Volume 80 Issue 20 Article ID: 24-20134
After the Lehman Shock, there has been a growing perceived labor shortage in our country. However, there is a lack of statistical analysis regarding labor shortage. Therefore, this study conducted path analysis to clarify the relationship between labor shortage and market competition using multiple regression analysis with labor shortage as the dependent variable, based on time-series data released by the government, as well as a survey conducted specifically for this study. The analysis of government statistics suggests that in the overall Japanese industry, labor shortage tends to increase as business conditions improve and domestic demand increases, and decrease as investment in production facilities increases and total working hours become longer. On the other hand, the survey analysis suggests that as the price elasticity of demand, which is believed to increase during intense market competition, increases, labor conditions such as wage satisfaction and expectations of wage increases decrease, leading to a potential increase in labor shortage.
