Japan's effective job-to-applicant ratio has reduced to 1.22 for the second consecutive year, suggesting a decline in job availability in the country. This ratio indicates the number of job offers available for each job seeker. The reduction demonstrates the state of the Japanese economy and job market as it grapples with worker shortage and demographics issues.

Japan's effective job-to-applicant ratio has been a crucial measure to assess the health of its labor market. Due to the country's rapidly aging population and declining birthrate, businesses often face difficulties in finding enough workers, resulting in a typically high job-to-applicant ratio. The decline thus can be seen as concerning, reflecting the economic impact.

Unlike in Japan, the U.S/EU job markets often swing between being employer-driven (more applicants than jobs, leading to lower ratios) and employee-driven (more jobs than applicants, leading to higher ratios). These variations are largely influenced by economic health, demographic changes and immigration policies.