Japan Jobless Rate Lowest Since 1992

The unemployment rate in Japan unexpectedly declined to 2.2 percent in May of 2018 from 2.5 percent in the previous month and below markets estimates of 2.5 percent. It is the lowest jobless rate since October 1992. Meanwhile, the jobs-to-applicants ratio edged up to 1.60 from 1.59 in April, slightly above expectations of 1.59 and reaching the highest figure since January 1974.

Compared to the preceding month, there were 1.51 million unemployed persons in May, 210 thousand less than in April. Employment fell by 20 thousand to 66.73 million, after a decrease of 10 thousand in a month earlier. The labour force decreased by 41 thousand to 68.21 million while those detached from the labour force went up 35 thousand to 42.70 million.

Among people aged 15 to 24 years old, the jobless rate dropped markedly to 3.4 percent from 3.8 percent in April.

A year earlier, unemployment was higher at 3.1 percent.

Japan Jobless Rate Lowest Since 1992

Statistics Japan l Rida | rida@tradingeconomics.com
6/28/2018 11:54:59 PM