Japan Jobless Rate Rises to 3-Month High in July

The unemployment rate in Japan edged up to 2.5 percent in July of 2018 from 2.4 percent in the previous month and slightly above market estimates of 2.4 percent. It was the highest jobless rate since April. Meanwhile, the jobs-to-applicants ratio inched higher to 1.63 from 1.62 in June while markets had expected an unchanged figure of 1.62. It marked the highest level since January 1974.

Compared to the preceding month, there were 1.72 million unemployed persons in July, 60 thousand more than in June. Employment increased by 40 thousand to 66.36 million, after a decrease of 410 thousand in a month earlier. The labour force went up by 80 thousand to 68.07 million while those detached from the labour force went down 170 thousand to 42.8 million.

Among people aged 15 to 24 years old, the jobless rate was unchanged at 3.8 percent.

A year earlier, unemployment was higher at 2.8 percent.

Japan Jobless Rate Rises to 3-Month High in July

Statistics Japan l Rida | rida@tradingeconomics.com
8/31/2018 11:01:01 AM