Employment Ice Age

The Employment Ice Age (Japanese: 就職氷河期, romanized: Shūshoku Hyōgaki) is a term in Japan that refers to a period starting around 1994 and ending by 2004^[2] where young graduates, as well as those who had lost their first jobs due to the Bubble Economy collapsing, were unable to find stable sources of employment. This phenomenon took place during the Lost Decade, and the cohort affected, Generation X, came to be referred to as the “Lost Generation” or the “Ice Age Generation”.^[3]

The phenomenon was triggered by the burst of the Japanese “Bubble Economy”, which although initially believed to be a temporary recession, by 1994 saw long-term economic stagnation in the Japanese economy, ushering in the uncertainties of the “Lost Decade”. To cut costs and protect older workers, companies offered limited numbers of jobs, shutting recent graduates out of the workforce, thus triggering the “Employment Ice Age”.^[3]

Those affected by the Employment Ice Age became accustomed to unstable and temporary employment, if any at all. The period severely affected Generation X (people in their 40s and 50s in 2020), encouraging social issues such as the development of the hikikomori, a spike in suicide rates, and the phenomenon of jouhatsu, as well as impacting their financial well-being, health, outlook, and ability to start families.^[4]

Given Japan's aging population, there is concern that government focus on the elderly has overshadowed those too poor to have ever started a family, who themselves will be moving into old age largely devoid of the financial resources other generations had. Government efforts on this matter have been deemed far too little and too late, and Nikkei writers claim that lawmakers remain unaware of the gravity of the situation.^[4]