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- Japan’s unemployment rate unexpectedly drops in July
Japan’s unemployment rate unexpectedly drops in July
A
report from the Ministry of Internal Affairs and Communications revealed on Tuesday
that the seasonally adjusted unemployment rate in Japan fell to 2.8 percent in
July from 2.9 percent in June. This was the lowest jobless rate since April.
Economists
had forecast the reading to remain unchanged m-o-m at 2.9 percent.
According
to the official data, the number of unemployed decreased by 120,000 from the
previous month to 1.90 million, while employment rose by 420,000 to 67.08
million. Meanwhile, the labor force increased by 280,000 to 68.99 million and
those detached from the labor force fell 310,000 to 41.34 million. Elsewhere, the
job-to-applicant ratio increased from 1.13 in June to 1.15 in July. The
participation rate came in at 62.5 in July, up from 62.4 a month earlier.
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