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Japanese prime minister Shigeru Ishiba resigns ahead of critical party leadership decision

Japan’s Prime Minister Shigeru Ishiba Resigns Ahead of Leadership Election

Japanese Prime Minister Shigeru Ishiba announced his resignation on Sunday, a day before a pivotal party meeting that could have initiated an exceptional early leadership election—potentially resulting in his ousting from both the party presidency and the government—following lackluster election results, reports 24brussels.

Ishiba, in a hastily called press conference, declared, “I have decided to step down as leader of the Liberal Democratic Party (LDP). Accordingly, under the party’s rules, there is no longer a need to hold an extraordinary campaign to select a new president.” His resignation was prompted by leaks about the anticipated leadership contest.

Stressing that he had previously stated he would not cling to his position indefinitely, Ishiba remarked, “I have consistently said that I would not cling to the post and that I would make my decision at the right time.” He indicated that the time had come just after Japan’s tariff negotiator, Ryosei Akazawa, returned from Washington, where an executive order was signed to reduce tariffs on Japanese vehicles to 15%.

The Prime Minister, who will remain in office until a new leader is chosen, hailed the trade agreement with U.S. President Donald Trump’s administration as a “milestone” for Japan. He urged his successor to fully implement the deal and address any arising questions or concerns, as he had throughout his tenure.

In expressing gratitude to his supporters, Ishiba conveyed regret over his resignation and emphasized the need for his successor to fortify the U.S.-Japan alliance while enhancing relations with other Asian nations, Africa, and Europe.

Mounting criticism from within the party followed the ruling coalition’s disappointing performance in July’s elections, with the coalition losing its majority in the more influential lower house during October’s general elections. This scenario has led Japan to a rare postwar instance of a minority government.

In Japan, the prime ministerial role is held by the leader of the party that secures the most seats in a general election, meaning a change in party leadership automatically results in a new head of government.

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Sorry, job seekers. The labor market is worse than we thought.

FILE PHOTO: Job seekers prepare for career fair to open at Rutgers University in New Brunswick, New Jersey, January 6, 2011.    REUTERS/Mike Segar
Job seekers prepare for career fair to open at Rutgers University in New Brunswick, New Jersey

Welcome back to our Sunday edition, where we round up some of our top stories and take you inside our newsroom. Good news for New Yorkers looking to get their $20 celebrity smoothie fix: Erewhon is coming to the Big Apple. The high-end grocer is opening a “tonic bar” inside an upcoming members club called “Kith Ivy.”


On the agenda today:

But first: Is it cold in here, or is it just the job market?


If this was forwarded to you, sign up here. Download Business Insider’s app here.


This week’s dispatch

Bad news for job seekers

A hand clicking a mouse as notifications that say

Friday’s jobs report was pretty bleak.

Hiring stalled in August, and prior months were revised lower, too, all but confirming the labor market’s summer slowdown.

Other metrics weren’t great:

  • The manufacturing sector has lost jobs so far this year.
  • Youth unemployment continues to rise, a bad sign for Gen Zers.
  • Even a relatively stable sector like healthcare is showing signs of cooling.

A JPMorgan strategist described the report in one word: “ouch.”

The Bureau of Labor Statistics also releases separate monthly survey data on job openings and labor turnover (known among econ wonks as the JOLTS data).

One stat from that report, released last week, stood out to me: The number of unemployed Americans in July outnumbered available jobs for the first time since 2021.

In other words, there are just not enough jobs for people who are on the hunt.

At Business Insider, we spend a lot of time covering leadership, careers, and the workplace. In particular, we like to go behind the data and see how these trends impact real people.

Job seekers have told us they’ve tried networking, working on certifications, and using AI to help find jobs in a cooler labor market. Some are even going old school with their applications, such as dropping off paper résumés or doing in-person tryouts with potential employers.

My colleague Tim Paradis reported on how applying for jobs has never been easier — and that’s exactly the problem.

He found that job applications submitted on LinkedIn rose more than 45% in May from a year ago, according to the company’s most recent figures. Applying for many jobs with just a few clicks is appealing. The downside is that it can be harder to stand out.

Case in point is Mody Khan, a former Microsoft employee who said he has struggled to land a job for the past nine months. He said he applies to new roles every week and, to make himself more marketable, he said he completed an AI certification.

But he said the stakes are getting higher as his savings dwindle.

“It’s a very, very dangerous situation,” he said.

If you’ve been navigating the job market, we’d love to hear your story. Please email me at srussolillo@insider.com.


The secret lives of AI annotators

Krista Pawolski

Training AI to be less offensive, less robotic, and more humanlike can be a lucrative side hustle or full-time gig, with rates that can surpass $50 an hour.

Yet annotators also say they’re frustrated with the secrecy and gray areas of their work. They say they’ve been asked to upload pictures of their faces or bait the chatbots into abetting violent crime, and they don’t know what the purposes of their projects are.

They’re also scared that they’re helping replace human workers.


Sellers beware

A house with a 'For Sale' sign in front and a hand is using a spatula to scrape off a 'Sold' sticker from the sign.

Instead of rushing to the finish line, homebuyers are backing out of deals at record rates. They’re skittish about the rising costs of homeownership and the job market. Plus, mortgage rates aren’t doing them any favors.

With more homes on the market and less competition from other homebuyers, those on the hunt can afford to be picky when it comes to picking the best bargain.

That leverage won’t last forever, though.


Amazon’s cultural shift

Andy Jassy photo collage

CEO Andy Jassy has spent the last year taking Amazon back to its roots. He’s shaved off layers of management, enforced a five-day RTO mandate, created a “bureaucracy mailbox,” and more.

Under his leadership, the e-commerce giant has been at the forefront of a cultural workplace shift that’s taking over corporate America. Jassy’s hardline style of employee management and his do-more-with-less culture has created a playbook that various company leaders can study, even if not everyone embraces his approach.

Back to its hardcore mindset.

Also read:


The simple life

Paris Hilton and Carter Reum
Paris Hilton and Carter Reum

Carter Reum is the cofounder of the early-stage venture capital firm M13 and the husband of Paris Hilton. From the living room of their 15,000-square-foot “dream house,” Reum spoke to BI’s Ben Bergman about his daily routine.

Reum is a big believer in wellness, and he says he enters his at-home cryochamber twice a day. He also says he and Paris like to cook and do ab or push-up challenges together. Yet, thanks to AI, he thinks his routine will seem outdated in a year.

Day and night.

Also read:


This week’s quote:

A lot of this sort of feeling of disappointment is due to unreasonable levels of hype.

— David Krueger, an assistant professor at the University of Montreal, on AI’s progress beginning to stall.


More of this week’s top reads:

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