Japan Jobless Rate Steady at 2.8% for 5th Month

The unemployment rate in Japan stood at 2.8 percent in October of 2017, the same as in the prior four months. The figure was in line with market consensus and remained at its lowest in 23 years. Meanwhile, the jobs-to-applicants ratio was at 1.55, up from 1.52 in the previous month while market expected 1.53. It was the highest level since January 1974.

Compared to the previous month, there were 1.87 million unemployed persons, a thousand more than in September. Employment dropped by 6 thousand to 65.44 million, after declining by 15 thousand in a month earlier. The labour force fell by 6 thousand to 67.32 million while those detached from the labour force went up by 3 thousand to 43.68 million.

Among people aged 15 to 24 years old, the jobless rate decreased to 4.5 percent from 5.1 percent in September.

A year earlier, unemployment was higher at 3.0 percent.

Japan Jobless Rate Steady at 2.8% for 5th Month

Statistics Japan l Rida Husna | rida@tradingeconomics.com
12/1/2017 4:50:28 AM