Japan Jobless Rate Falls to 5-Month Low

The seasonally adjusted unemployment rate in Japan dropped unexpectedly to 2.3 percent in February 2019 from 2.5 percent in the previous month while markets had expected 2.5 percent. It was the lowest jobless rate since September last year. Meanwhile, the jobs-to-applicants ratio remained unchanged at 1.63 and in line with consensus.

The number of unemployed decreased 120 thousand from a month earlier to 1.60 million in February, while employment rose by 490 thousand to 67.14 million. The labor force increased 340 thousand to 68.73 million and those detached from the labor force fell 370 thousand to 42.14 million.

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, went up to 3.4 percent in February from 3.2 percent in January.

A year earlier, the unemployment rate was higher at 2.5 percent.

Japan Jobless Rate Falls to 5-Month Low

Statistics Japan l Rida Husna | rida@tradingeconomics.com
3/29/2019 12:28:33 AM