August 29, 2023
04:52
04:52
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Japan's unemployment rate rose 2.7%, first rise in four months
Japan's unemployment rate rose for the first time in four months in July, while seperate data showed the jobs-to-applications ratio had weakened. The jobless rate increased to 2.7% from June, higher than the 2.5% economists had expected. Jobs offers-to-applicants ratio slipped for the sixth time this year to 1.29% in July from 1.3% -- with job offers in the manufacturing sector falling 11.4%. While the data shows unemployment in Japan is still low by international standards, they suggest tightness in the labour market may have peaked for now.
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