Japan's truck driver overtime crackdown sparks economic fears.

1 min read
Source: Reuters
Japan's truck driver overtime crackdown sparks economic fears.
Photo: Reuters
TL;DR Summary

Japan's new law limiting truck drivers' annual overtime to 960 hours is causing fears of a "2024 crisis" due to a potential shortage of drivers, which could leave a third of all cargo undelivered and result in a potential 10 trillion yen ($76 billion) hit to the economy by 2030. Truck drivers say they need the extra hours to pay the bills, and the expected drop-off in the number of drivers could affect farmers, shops, and diners accustomed to next-day delivery of fresh produce. The global consultancy Roland Berger expects a 20% decline in the number of Japanese truck drivers in the decade to 2030.

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