Japan Jobless Rate Lowest Since November 1993

The unemployment rate in Japan edged down to 2.7 percent in November of 2017 from 2.8 percent in the prior five months and slightly below market consensus of 2.8 percent. It was the lowest jobless rate since November 1993. Meanwhile, the jobs-to-applicants ratio was up to 1.56 from 1.55 in October and in line with estimates. The figure stayed at its highest level since January 1974.

Compared to the previous month, there were 1.85 million unemployed persons, 20 thousand less than in October. Employment increased by 140 thousand to 65.58 million, after declining by 60 thousand in a month earlier. The labour force rose by 130 thousand to 67.45 million while those detached from the labour force went down by 110 thousand to 43.57 million.

Among people aged 15 to 24 years old, the jobless rate decreased to 4.1 percent from 4.5 percent in October.

A year earlier, unemployment was higher at 3.1 percent.

Japan Jobless Rate Lowest Since November 1993

Statistics Japan | Rida Husna | rida@tradingeconomics.com
12/26/2017 9:40:47 AM