Every year, Mitsuhiro Wada has to recruit up to 900 new graduates in a country with an ultra-low unemployment rate of 2.8 per cent and a declining pool of young people at university.
“The market is very tough. There’s a huge amount of competition,” says Mr Wada, head of recruitment at Daiwa House, one of Japan’s biggest construction companies and a leading hirer of graduates. “It’s even tougher than it was in 2007 or 2008.”
After five years of economic stimulus under prime minister Shinzo Abe, and with the working age population in steep demographic decline, Japan’s big companies are engaged in a ferocious contest for talent.
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