The country needs to foster young workers in the manufacturing sector as a large number of baby boomers will retire in the near future, the government said in a report submitted Friday.
The government and the private sector should join hands to cultivate human resources so Japan can maintain the competitiveness of its traditionally strong manufacturing sector, according to the 2005 white paper on Japan's manufacturing base.
The report, jointly submitted by the Ministry of Economy, Trade and Industry, the Ministry of Education, Culture, Sports, Science and Technology, and the Ministry of Health, Labor and Welfare, was adopted at a Cabinet meeting.
About 6.7 million workers who were born during the 1947-1949 baby boom will start hitting retirement age in 2007.
The white paper says 30 percent of manufacturers plan to respond to possible labor shortages by extending the employment terms of baby boomers or increasing the number of new hires.
The report says the manufacturing industry is recovering as a whole, with corporate profits hitting a record high in 2004.