According to the International Labour Organisation (ILO), The jobless is likely to increase from 5.7 percent last year to 6.2 percent in 2009 in ASEAN countries if growth drops due to the global financial crisis and the region’s reliance on exports and foreign investment.
Other factors can be attributed to intra-regional migration, a growing shortage of high-end skills, rising income inequalities and the erosion of social cohesion.
To help the jobless in Japan, the government has offered affordable (monthly rent from 4000 to 48000 yen) temporary housing (tenable up to one year) previously reserved for the homeless to them.
The Finance Ministry alone will put aside 775 units, the Health, Labour and Welfare Ministry will refurbish 31 000 units of rundown housing facilities and rent them out to the unemployed from January 2009 until March 2011 and would provide discount rate for 23 000 units managed by state-linked housing agency to the unemployed.
The Japan Bank for International Cooperation (JBIC) is also doing its part to help Japanese firms operating in the developed world by providing loans available until end March 2010 to exporters as well as big Japanese multinationals operating in developing economies.
Reuters, “Export-reliant Asia sinks further” dated 27 December 2008 in the Straits Times (Singapore: Straits Times), 2008, p. C22.
Straits Times, “Jobless offered a roof over the head” dated 29 December 2008 in the Straits Times (Singapore: Straits Times), 2008, p. A7.
VOVNews/VNA, "Financial crisis may increase ASEAN’s jobless rate" dated 22 October 2008 in the VOVNews website [downloaded on 1 Jan 2009], available at http://english.vovnews.vn/Home/Financial-crisis-may-increase-ASEANs-jobl....