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Japan's jobless rate up to 5.1% in Oct

16 Comments

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And they will blame this on foreign influences and the Yen/dollar rate as usual.

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Last week, the Diet passed a stimulus package with support for small businesses and regional economies

Ah yes, increase the national debt and the amount of interest that needs to be paid. What a brilliant idea. It's just like trying to cure an alcoholic by giving him more alcohol. The only winners are the banks.

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If they laid off all the extra workers at McDonald's it would be up to 10%

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Remember folks, the official jobless rate is always lower than the actual. This number only represents those on welfare benefits. It doesn't represent those who's benefits finished nor the under worked. In the US, the official number is 9.5%.

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I hope Japan doesn't flounder on that TPP free trade deal that's going on. That is truly Japan's only hope to stop slipping into economic oblivion.

More of the same just gets more of the same.

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It's a miracle it's only a 5%, after what japanese politicians have done over the last decade!

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The unemployment rate counts only those who are actively looking for work, not individuals who have dropped out of the job market entirely.

So, you could add at least 2% to this figure, which makes the following statement a load of bull's poo! > "The figure is low by international standards but high historically for Japan."

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I have a feeling majority of OECD countries miscalculated stuff... including JAPAN.

2011 would be the year to watch just how big the crack was post-GFC, and as the advanced economies enter a state of equilibrium particularly in Eurozone (then maybe China). As one blog aptly puts it: The twin crises in China and the eurozone don't have simple do-this-and-it's-over solutions. Instead, they resemble pendulums that reach equilibrium only after alternating swings to extremes.

Caveat emptor.

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I hope Japan doesn't flounder on that TPP free trade deal that's going on. That is truly Japan's only hope to stop slipping into economic oblivion.

Trade (esp. TPP) would have been a good issue for the Prez; and he already said he'll make certain U.S. entry into Pacific Trade Deal a core priority for his administration.

The other side would put up a routine opposition against OBAMA's open trade policies. But you reckon these eager supporters (of the trans-Pacific FTA) wouldn't find the TPP-marathon testing..... especially if you'll stretch it until, maybe, the US 2012 election?!

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Remember folks, the official jobless rate is always lower than the actual. This number only represents those on welfare benefits

Correct. Already 1988 Vollmer published the following:

Japan's published unemployment figures are obtained from the "Labour Force Survey", a monthly survey where sample households are asked about their employment status.

Here unemployed are defined as persons 15 years of age or over who during the survey week worked one hour or less, who were seeking work actively and who were available to start a new job immediately.

Critics stress supposed definitional and methodical differences to international standards, and assert that Japan's statistics record cases considered as unemployed in the USA and Germany as being outside the labour force or still employed. They suggest that the comparable unemployment rate might be considerably higher and correspond more to those of other countries.

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@kyoken thanks for the update. Yes, Japanese unemployment could be higher than the official figure released this week :(

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Quick! Time to hire more ojīsan in polyester Admiral uniforms to wave light wands in parking lots.

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There was something in the vernacular yesterday about the percentage of jobs for school-leavers next spring is at the 40% level, at least 10 percentage points below the official figures.

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I should consider myself lucky to have a job in Japan and also get the winter bonus next month...

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There are plenty of jobs out there - no need to be unemployed if you have a GENUINE work ethic and don't expect socialist welfare handouts all the time.

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Yes, good statement. People are employed because they probably worked hard for it.

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