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Japan’s Jobless Rate dropped to 2.5 in November

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Japan's Jobless Rate dropped to 2.5 in November

(CTN News) – According to official statistics released on Tuesday, Japan’s unemployment rate dropped to 2.5% in November and job availability remained at its best since March 2020.

According to a Reuters poll, the seasonally adjusted Jobless Rate decreased from 2.6% in October and was in line with experts’ median expectations.

According to figures from the labor ministry, the jobs-to-applicants ratio was 1.35, unchanged from October.

Visit the internal affairs ministry’s website at http://www.stat.go.jp/english/data/roudou/index.htm to see a table of employment statistics.

(Note: The labor ministry’s website includes Japanese versions of the jobs-to-applicants ratio and new job offers.)

Japan Jobless Rate Unexpectedly Edges Higher

In September 2022, Japan’s jobless rate unexpectedly rose to 2.6 percent from August’s 30-month low of 2.5 percent and the market consensus.

While employment climbed by 130 thousand to 67.43 million, jobless people increased by 80 thousand to 1.83 million. 180 thousand more people entered the labor force, bringing it to 69.23 million, while 90 thousand fewer people left it to 40.99 million.

Non-seasonally adjusted labor force participation increased from 62.3 percent in September last year to 63.0 percent in September. The unemployment rate was 2.8 percent a year ago.

Meanwhile, exceeding expectations of 1.33, the jobs-to-application ratio increased to a 30-month high of 1.34 in September from 1.32 in August.

Source: Reuters

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