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Japan’s unemployment rate increased
The unemployment rate published by the Ministry of Health, Labour and Welfare and the Bureau of Statistics of Japan, was 3.1% in November which is higher than the previous value of 3.0%. Was expected that the index to remain at 3.0%.
Household spending dropped significantly in November compared with the previous month. As reported by the Ministry of Internal Affairs and Communications, spending was down 1.5% year on year, after declining by 0.4% in October. The level of expenditure can be used as an indicator of consumer optimism. The indicator is also a barometer of economic growth. As can be seen from the data, consumer spending declined, which is negative for the Japanese economy and Japanese currency.
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