Needless to say, the background to this development in private consumption is the  8  improvement  in  the  employment  and  income  situation. The  active  job  openings-to-applicants ratio in Kochi Prefecture surpassed the long-hoped-for ratio of 1 a year ago and has continued to follow an uptrend since then.
On this basis, wages are rising and employee income is following a moderate increasing trend. However, the background to this increase in the active job openings-to-applicants ratio is not only the improvement in the business cycle but also labor shortages due to the decline in and aging of the population, which is more than ten years ahead of the national trend.