Private credit firm Teikoku Databank says Japan’s March 11 disasters forced 510 companies to fail by December 31, 2011.  All together the companies had more than $9 billion in debt.

The construction sector had the most bankruptcies.  But even though contracts for repairing disaster hit areas are finally increasing, the struggling economy is causing a decline in construction in other parts of Japan, basically canceling out the effect of increased construction contracts in disaster areas.

For the Japanese automotive sector, sales of Japanese cars are at the lowest point in 34 years!  It’s all because of the quakes and tsunamis, and the ongoing nuclear disaster, directly affecting parts production for Japan’s car makers (add to that the recent flooding in Thailand which is having the same effect).

The result is that many of Japan’s major companies are moving production to other countries like China.  Of course that means unemployment is skyrocketing.

In August the Japanese Labor Ministry reported a record 38 year high in unemployment percentage. In November the official number of unemployed Japanese hit 2.88 million!

…there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”