1.93 million more people will be forced out of jobs in the next 3 years

A government paper predicts that if the Koizumi Cabinet maintains its policy of "prompt write-off of banks' bad loans," 1,930,000 people will lose their jobs in the next three years.

The paper was published on December 13 by the Cabinet Office.

The research paper estimates that if non-performing loans classified as "at risk of failure" are disposed of, 1,176,000 people will lose their jobs, and the number will reach 1,930,000 if loans that "need careful monitoring" are added.

The paper states that of the displaced workers, 222,000 people will be unemployed in the first year.

It was initially estimated that 600,000 people would lose jobs in the first year. The state minister in charge of Economic and Fiscal Policy and the Financial Services Agency protested at the figure and modified it to 220,000 on the grounds that some job leavers may find jobs again and some may voluntarily decide to stop working. (end)