JAPAN – Jobless Rate Down In August, Job Availability Remains Steady
Japan’s seasonally-adjusted unemployment rate stood at 2.2% in August 2019, down 0.2% when compared to the same period last year, according to data from Statistics Japan.
According to Nikkei, this was the lowest level in 26 years on the back of a chronic labour shortage due to the country's rapidly graying population.
The number of unemployed persons in August 2019 stood at 1.57 million, a decrease of 130,000 or 7.6% from the previous year. On a non-seasonally adjusted basis, the unemployment rate in Japan stood at 2.3%, down 0.2% from last year.
Meanwhile, the employment rate in August stood at 60.9%, up 0.7% from the previous year. The number of employed persons in August 2019 was 67.51 million, an increase of 690,000 or 1.0% from the previous year.
The labour force participation rate was 62.3%, up 0.6% from the previous year.
The job availability ratio stood at 1.59, unchanged from July. The ratio means there were 159 openings for every 100 job seekers.