At this point, Japan lacks highly-skilled labor power amid such problems as the aging and contraction of the Japanese nation. the local authorities are desperately trying do resolve the problem by attracting more of foreign skilled labor power. Still, this is currently happening amid the fact the Japanese Yen is currently devaluing pretty fast, which certainly distracts foreign workers, Market Leader reports.
According to Masterforex-V Academy, yen-denominated paychecks are getting less popular since no skilled worker wants its salary to devalue faster than dollar-denominated paychecks. Everything started when Premier Abe decided to implement a series of steps aimed at stimulating the national economy. this triggered the devaluation of the national currency, thereby making it a less favorable means of rewarding skilled jobs.
In particular, the Japanese construction industry is currently one of those economic sectors suffering from the mentioned lack of skilled labor power most of all. In particular, some sources report that in 2015, the deficit of skilled labor power is going to reach 230 000 vacancies.
This is happening amid the fact that the Japanese nation is aging and getting scantier, thereby creating more headaches for future Japanese governments. The tendency has been accelerating over the last 3 years. The problem may reach critical point in several decades. If there is no solution, the Japanese will have to hire foreigners to look after babies, children and aged people.
USDJPY
While Japan is facing one problem after another, the Japanese Yen keeps on trying to catch a breath while the US Dollar has taken a timeout on its way up to new heights against the Japanese currency, Masterforex-V Academy reports. At this point, the price is trying to consolidate and decide on the direction of the next short-term momentum while trading around 118,75.
The closest level of resistance is represented by the newly-formed high of 121,84. At the same time, the key level of support are located at 105,21 as well as the bottom of the MF sloping channel.
