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  HOME | Business & Economy (Click here for more)

Japan’s Unemployment Rate Rises to 2.8% in December

TOKYO – Japan’s unemployment rate in December rose 0.1 percentage point over the previous month to stand at 2.8 percent, the Japanese government announced on Tuesday.

The number of unemployed people in the country stood at 1.74 million in December, which was about 190,000 people or 9.8 percent less year-on-year, according to the Ministry of Internal Affairs and Communications.

The number of employed people jumped 520,000 with respect to December 2016 to reach 65.42 million, or 0.8 percent higher.

Labor supply in relation to demand remained at record levels, confirming the persistent rigidity of the Japanese labor market and representing a potential impediment to the growth of the world’s third biggest economy, which is also undergoing an accelerated process of demographic ageing.

In December, 159 jobs were on offer for every 100 job seekers, which represents the highest rate since February 1974.

With regard to the whole of 2017, unemployment in Japan fell 0.3 percentage point to 2.8 percent, compared to 2016.

The Statistics Bureau of the Ministry of Internal Affairs and Communications also released Tuesday the data on household spending for the month of December 2017.

Each Japanese household with two or more residents spent on average 322,157 yen ($2,957), 0.1 percent less year-on-year.

On the other hand, the average income per salaried household rose 0.4 percent year-on-year to 940,875 yen.

 

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