Over a million Japanese workers lost their jobs in the last four months. The 5% unemployment rate is the highest it has been in over 50 years. More bankruptcy and a higher jobless rate are expected. The government is focusing on promoting education to lead the country out of such a recession, however the plan will not immediately help the weak economy and corporate restructuring.
See "Japanese unemployment hits record high", David Ibison, Financial Times, August 23, 2001