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▼ Japan's FY2022 Jobless Rate At 2.6%; Improves For 2nd Year In Row
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Japan's unemployment rate for fiscal 2022 fell by 0.2 percentage point from the previous year to an average of 2.6 percent, marking the second straight year of improvement amid a steady recovery from the COVID-19 pandemic, government data showed Friday.
The job availability ratio rose 0.15 point to 1.31 in the same fiscal year, indicating there were 131 job openings for every 100 job seekers, also a second straight year of improvement, according to separate data.
The change came after economic activity further increased with the removal of the government's coronavirus restrictions. A subsidy program for domestic travel to boost the tourism sector also began in the fiscal year.
"The continued improvement in the unemployment rate came as the number of people who were dismissed decreased amid an economic recovery from the pandemic," an official at the internal ministry said.
But the job availability ratio was still lower than the pre-pandemic levels of 1.55 reported in fiscal 2019.
By month, the unemployment rate in March rose by 0.2 percentage point from the previous month to 2.8 percent, marking the second straight month of deterioration, according to the Ministry of Internal Affairs and Communications.
Despite the fall in the jobless rate for the second straight year, "There are signs that the improvement may be coming to a halt," reflecting an economic slowdown overseas, said Taro Saito, executive research fellow at the NLI Research Institute said.
Employment in the manufacturing sector in Japan could be affected by a slowdown in the United States and China, he said.
The job availability ratio fell 0.02 point to 1.32, declining for the third straight month, the Ministry of Health, Labor and Welfare said, with some industries affected by inflation and rising energy costs.
As for job openings, the lifestyle and entertainment sectors saw the sharpest rise at 8.3 percent, followed by accommodation and restaurant services at 5.9 percent, the ministry said.
In contrast, employment offers in the manufacturing sector dropped 8.0 percent, while those in the construction sector sank 6.3 percent.
The total number of unemployed stood at a seasonally adjusted 1.95 million people in March, up 8.3 percent from the previous month, data from the internal affairs ministry showed.
Among them, 820,000 people voluntarily left their jobs, up 7.9 percent, while 520,000 people were dismissed, up 15.6 percent.
© KYODO
The job availability ratio rose 0.15 point to 1.31 in the same fiscal year, indicating there were 131 job openings for every 100 job seekers, also a second straight year of improvement, according to separate data.
The change came after economic activity further increased with the removal of the government's coronavirus restrictions. A subsidy program for domestic travel to boost the tourism sector also began in the fiscal year.
"The continued improvement in the unemployment rate came as the number of people who were dismissed decreased amid an economic recovery from the pandemic," an official at the internal ministry said.
But the job availability ratio was still lower than the pre-pandemic levels of 1.55 reported in fiscal 2019.
By month, the unemployment rate in March rose by 0.2 percentage point from the previous month to 2.8 percent, marking the second straight month of deterioration, according to the Ministry of Internal Affairs and Communications.
Despite the fall in the jobless rate for the second straight year, "There are signs that the improvement may be coming to a halt," reflecting an economic slowdown overseas, said Taro Saito, executive research fellow at the NLI Research Institute said.
Employment in the manufacturing sector in Japan could be affected by a slowdown in the United States and China, he said.
The job availability ratio fell 0.02 point to 1.32, declining for the third straight month, the Ministry of Health, Labor and Welfare said, with some industries affected by inflation and rising energy costs.
As for job openings, the lifestyle and entertainment sectors saw the sharpest rise at 8.3 percent, followed by accommodation and restaurant services at 5.9 percent, the ministry said.
In contrast, employment offers in the manufacturing sector dropped 8.0 percent, while those in the construction sector sank 6.3 percent.
The total number of unemployed stood at a seasonally adjusted 1.95 million people in March, up 8.3 percent from the previous month, data from the internal affairs ministry showed.
Among them, 820,000 people voluntarily left their jobs, up 7.9 percent, while 520,000 people were dismissed, up 15.6 percent.
© KYODO
- April 28, 2023
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