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▼ Japan's Jobless Rate Falls To 2.5% In October
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Japan's unemployment rate fell to 2.5 percent in October from 2.6 percent a month earlier, improving for the second consecutive month, as the number of job seekers declined with more people finding employment or giving up looking for work, the internal affairs ministry said Friday.
The job availability ratio edged up 0.01 point from September to 1.30, indicating there were 130 job openings for every 100 job seekers, also reflecting the decline in people looking for work, according to separate data.
Among new job openings in October, the accommodation and food services sector rose 2.2 percent from a year earlier on the back of a recovery in inbound tourism, according to the Ministry of Health, Labor and Welfare.
Employment in the manufacturing and construction sectors, however, declined 10.6 percent and 6.2 percent, respectively, with high material prices increasing costs.
"Japan's labor market in general has been on a tightening trend amid labor shortages, as the economy continues to recover from the coronavirus pandemic," said Saisuke Sakai, a senior economist at Mizuho Research & Technologies.
He also noted that the service sector continues to seek more workers with the number of inbound tourists, except those from China, recovering to pre-pandemic levels.
The total number of people with jobs fell 0.1 percent from the previous month to a seasonally adjusted 67.49 million, while the number of unemployed people stood at 1.75 million, down 1.1 percent from the previous month, data from the Ministry of Internal Affairs and Communications showed.
Among them, 770,000 people voluntarily left their jobs, up 1.3 percent, while 370,000 people left employment due to other reasons, such as dismissal or retirement, down 2.6 percent from the previous month.
The unemployment rate stood at 2.6 percent for men, down 0.2 point from the previous month, while the rate for women increased 0.2 point to 2.5 percent as more women entered the labor market, the internal affairs ministry explained.
The number of people in the accommodation and food service sector stood at 4.08 million in October, up 4.6 percent from a year earlier and marking the biggest gain among the surveyed sectors, while 10.53 million people were employed in manufacturing, unchanged from a year earlier.
© KYODO
The job availability ratio edged up 0.01 point from September to 1.30, indicating there were 130 job openings for every 100 job seekers, also reflecting the decline in people looking for work, according to separate data.
Among new job openings in October, the accommodation and food services sector rose 2.2 percent from a year earlier on the back of a recovery in inbound tourism, according to the Ministry of Health, Labor and Welfare.
Employment in the manufacturing and construction sectors, however, declined 10.6 percent and 6.2 percent, respectively, with high material prices increasing costs.
"Japan's labor market in general has been on a tightening trend amid labor shortages, as the economy continues to recover from the coronavirus pandemic," said Saisuke Sakai, a senior economist at Mizuho Research & Technologies.
He also noted that the service sector continues to seek more workers with the number of inbound tourists, except those from China, recovering to pre-pandemic levels.
The total number of people with jobs fell 0.1 percent from the previous month to a seasonally adjusted 67.49 million, while the number of unemployed people stood at 1.75 million, down 1.1 percent from the previous month, data from the Ministry of Internal Affairs and Communications showed.
Among them, 770,000 people voluntarily left their jobs, up 1.3 percent, while 370,000 people left employment due to other reasons, such as dismissal or retirement, down 2.6 percent from the previous month.
The unemployment rate stood at 2.6 percent for men, down 0.2 point from the previous month, while the rate for women increased 0.2 point to 2.5 percent as more women entered the labor market, the internal affairs ministry explained.
The number of people in the accommodation and food service sector stood at 4.08 million in October, up 4.6 percent from a year earlier and marking the biggest gain among the surveyed sectors, while 10.53 million people were employed in manufacturing, unchanged from a year earlier.
© KYODO
- December 4, 2023
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