Japan Unemployment Rate Falls in July

Japan's unemployment rate fell to 5.2% in July from 5.3% in June, as the number of unemployed marked the first month-on-month drop in five months and more jobs were created for the second straight month.

A gradual improvement in the labor market was also confirmed in year-on-year changes, with number of employed people rising 10,000 from July last year, posting the first y/y gain in 30 months.

In July, the number of unemployed fell by a seasonally adjusted 60,000 from the previous month, or 1.7%, to 3.41 million, compared with a rise of 70,000 in June.

The number of payroll jobs rose by a seasonally adjusted 210,000 month-on-month, or 0.3%, to 62.46 million, showing the second straight m/m gain, after rising 40,000 m/m in June.

Job losses remained largely in construction, manufacturing and wholesale and retail trade. But job cuts in those industries decelerated from the previous month.

Medical, health care and welfare, scientific research, professional and technical services, as well as information and communications continued to create jobs.

Japan Unemployment Rate Falls in July

TradingEconomics.com, MarketNews
8/27/2010 12:31:59 PM