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Goldman Sachs warns a demographic crisis

There are an additional three million Japanese women working than in 2012, even though they only earn 75 percent of what the male population makes, according to a Goldman Sach’s ‘Womenomics’ reportcompiled by Japan strategist Kathy Matsui. Even as the Japan’s female labour force is increasing, women seem to be trailing behind their peers in other developed countries.

Matsui warned that the country is at the brink of a demographic crisis. “If your sole key resource as a nation is your human capital, you don’t have a lot of options but to leverage every single human being,” she stated.

Matsui criticised Japanese Prime Minister Shinzo Abe for the slow pace of women’s representation increasing in leadership roles across sectors.

Women working to their full potential could boost Japan’s economy by 15 percent, according to Matsui. This would mean increasing women workers in the country to match men. But it would also mean letting women work longer hours as they are mostly in part-time roles as of now

She said changing the legal structure was not enough and called on the private sector to help out. “The government can only do so much and a lot of the heavier lifting needs to occur in the private sphere, not only within or inside or corporations but also within homes,” she noted.

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