Japan Jobless Rate Falls to 26-Year Low

The unemployment rate in Japan fell to 2.2 percent in July 2019, the lowest since October 1992 and below market expectations of 2.4 percent. The jobs-to-applications ratio declined to 1.59, the lowest since March 2018 and also below consensus of 1.61.

The number of unemployed fell 70 thousand from a month earlier to 1.54 million in July, while employment grew by 150 thousand to 67.16 million. The labor force rose 90 thousand to 68.71 million and those detached from the labor force decreased 30 thousand to 42.13 million.

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, dropped to 3.4 percent in July, the lowest in five months, from 3.8 percent in June. 

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

Japan Jobless Rate Falls to 26-Year Low

Statistics Japan | Rida Husna | rida@tradingeconomics.com
8/30/2019 11:41:07 AM