TOKYO -- Japan's IT industry experienced the steepest decline in labor productivity among the Group of Seven leading industrialized economies between 2019 and 2023, as the sector's growing workforce did not yield proportional profit growth.
Japan's digital deficit -- the negative balance of payments for digital services -- has surged, highlighting the country's growing dependence on foreign-based cloud and other IT services.
Datawatch
Japan posts biggest drop in IT labor productivity among G7
Profit growth lags workforce expansion due to slow adoption of cloud tech
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