business

Japan's jobless rate rises to 2.9% in July

13 Comments

Japan’s jobless rate rose while the availability of jobs declined in July, government data showed on Tuesday.

The seasonally adjusted unemployment rate was 2.9% in July, up from 2.8% in June, figures from the Ministry of Internal Affairs and Communications showed. The median forecast was 3.0%.

The jobs-to-applicants ratio slipped for the seventh straight month in July, falling to 1.08 from the previous month’s 1.11 to mark the lowest reading since April 2014, labour ministry data showed. The reading matched the median forecast.

Meanwhile, factory activity contracted at the slowest pace in six months in August, reducing some of the heat on policymakers pressured to take more radical steps to prevent the economy from sliding deeper into recession.

The world’s third-largest economy is expected to see a modest bounce in the current quarter after a record slump in April-June as new coronavirus cases keep a lid on consumer sentiment and slow the overall recovery.

© Thomson Reuters 2020.

©2020 GPlusMedia Inc.

13 Comments
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Fake news. Doesn’t include temporary workers or those who are cut off from Hello Work after 3 months.

17 ( +17 / -0 )

Goodlucktoyou.... precisely.

8 ( +8 / -0 )

2.9% is a sham!

8 ( +8 / -0 )

Fake news. Doesn’t include temporary workers or those who are cut off from Hello Work after 3 months.

Its true that the method of measuring unemployment in Japan understates things by leaving out those variables.

But the data is still useful for comparison about the impact of Covid on employment. Those faults existed pre-Covid as well, so its measuring the same thing across time. Also, the method of measuring unemployment in other countries like the US also understates the true picture.

I think relatively speaking the employment situation in Japan is nowhere near as bad right now as it is in the US or a lot of other countries, even though it is bad.

6 ( +6 / -0 )

The jobless rate now is 2.9%?

And who's leading Ministry of Internal Affairs and Communications? Pinocchio?

6 ( +6 / -0 )

Whatever the actual number it is way lower than many other G10 countries.  Just have to look at the number of people needed to guard a hole in the ground or organize anything here to see why that is.

-3 ( +2 / -5 )

The actual rate is far higher.

4 ( +4 / -0 )

At least double that, and that's being generous.

2 ( +2 / -0 )

If it's not on paper then it can't be true! There are many people queuing for food and living under bridges just outside this ministry office tower, but they are not on paper so don't count as people. It's pretty simple really.

0 ( +0 / -0 )

I think that many persons feel boring to same comments and explanation for unemployment rates of japan after release of monthly job reports. We do not need to worry so much because Japan has various social aid systems for unemployed people and originally has been in short of workers, which had brought many foreign workers. 

Cricky[

Do you live in Japan ? I think that the number of people living under bridges is less than 100 out of more than 120 million population.

-4 ( +0 / -4 )

Do I live in Japan? No I am in an ethereal time dimension and should you bother to go out of your way to those cardboard living areas, or internet you might see for yourself there are way more that 100 people, more than 1,000, probably multiple more. You should run for office. And that doesn't include people going without food to pay rent. Check the child poverty rates, it's a mirror on family poverty. In my area alone might not be 100 but extrapolated over the whole of Tokyo it would be naive to say less than 100.

1 ( +2 / -1 )

The riversides in Tokyo are lined with blue tarp mansions.

3 ( +3 / -0 )

It is much worse in reality than in statistics.

Japanese government is notorious for manipulating the labor statistics, and most foreign investors do not trust them.

https://www.ft.com/content/e3a28958-1a24-11e9-9e64-d150b3105d21

https://www.reuters.com/article/us-japan-economy-wages-error/japan-wage-data-credibility-in-doubt-over-erroneous-sampling-idUSKCN1P30M7

1 ( +1 / -0 )

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