The purpose of the paper is to reexamine the index of job creation and destruction using the microdata from Japanese governmental statistics, Employment Trend Survey, from 1991 to 2005. Based on the methodology invented by Davis and Haltiwanger, I introduce the distinction of probability of vanishing job opportunity among worker outflows by using the information of reasons of separation. The new index confirms the importance of micro shocks explaining job flows pointed out in the previous literature. On the other, in the new time series variation of Japanese job flows shows a similarity to that of the U.S. rather than that of European countries.
