Companies in Japan have been cutting job offers to new graduates at the fastest pace in more than a decade, reports Japan Times, citing a government survey. This comes as the coronavirus pandemic has forced firms into thorough efforts to reduce costs. As of 1 October, 69.8% of university students who will graduate next spring have received job offers, down 7.0 points from a year earlier. It was the sharpest fall since 2009 when the rate dropped 7.4 points amid the global financial crisis. It is the first time in five years that the ratio has fallen below 70% in October. The government began the survey in 1996. “As companies have cancelled job fairs, students have fewer opportunities for information gathering and consultations. We will support them,” a Health, Labour and Welfare Ministry official said.