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In Japan, the practice of Lifetime employment (終身雇用, shuushin koyou ^?) has been the rule in big Japanese companies beginning with the first economic successes in the 1920s. Lifetime employment starts with a special Japanese event called Simultaneous Recruiting of New Graduates. It gives Japanese workers the important feeling of job security as part of Japanese management culture, and in turn, elicits a high degree of company loyalty. A high demand for the few available engineers forced companies to bind these employees to the company. The collapse of the Japanese asset price bubble and the following crisis in the 1990s did not weaken the practice. It is also used in small Japanese companies. Since 2003, with Koizumi´s arrival, lifetime employment was rare. Neoliberal politics, on economy gave as a result, privatization, firing of old and expensive workers, and the rising of part-timer job. (neoliberalism) However, due to the long recession and 2008-2009 financial crisis many companies have discontinued the practice of shuushin koyou and have embarked in mass layoffs.

External links

• The State and Change in the "Lifetime Employment" in Japan: From the End of War Through 1995
• Japan: Rethinking Lifetime Employment
• Japan’s ‘employment for life’ myth
• In Japan, Secure Jobs Have a Cost
• Japan Strives to Balance Growth and Job Stability