The Japanese demolition industry is experiencing an alarming surge in bankruptcies at an unprecedented rate. Harsh working conditions and fatigue among onsite employees are among the main reasons behind the financial falter. The issue, which largely spells economic repercussions, has sprung up due to the fast-paced demand for urban development in the country.
The alarming bankruptcy rate in the demolition industry is becoming a significant concern in Japan. Amid rapid urbanization, the industry's laborious nature and the workers' adverse conditions are causing a stir in public opinion. This situation poses a significant threat to both Japan's economy and labor market stability, given that demolition projects are integral to the country's continuous urban development.
In contrast, in the US and EU, stricter labor laws are generally enforced to prevent worker fatigue, providing a safer environment for high-demand industries like demolition. Moreover, these western countries have significant startup bankruptcy protection measures that could provide a safety net to businesses facing difficulty.