— Japan Apr Jobs -280,000 M/M (-0.4%) Vs Mar -50,000
— Japan Apr Unemployed +80,000 M/M (+2.4%) Vs Mar +100,000
— Japan Apr Jobs -530,000 Y/Y Vs Mar -350,000, 27th Y/Y Drop In Row
— Japan Apr Unemployed +100,000 Y/Y Vs Mar +150,000, 18th Rise In Row
— Japan Apr Job Offers-To-Seekers Ratio 0.48 Vs Mar 0.49

TOKYO (MNI) – Japan’s unemployment rate rose to 5.1% in April from
5.0% in March as the number of the employed dropped from the previous
month, data from the Ministry of Internal Affairs and Communications
showed Friday.

The seasonally adjusted unemployment rate for April was slightly
higher than the consensus call of a 5.0% reading.

The jobless rate was below the record high of 5.6% hit in July
2009, but was still higher than the 4.2% rate seen at the start of 2009.

In April, the number of the unemployed rose by a seasonally
adjusted 80,000 from the previous month, or 2.4%, to 3.39 million,
compared with +100,000 in March.

The number of payroll jobs fell by a seasonally adjusted 280,000
month-on-month, or 0.4%, to 62.45 million, after falling 50,000 m/m in
March.

Job losses also continued when compared with year-earlier levels.

The number of employed people posted the 27th straight year-on-year
drop in April, down by 530,000 (-0.8%) y/y to 62.69 million. The pace of
decline accelerated from the drop of 350,000 (-0.6%) to 62.10 million in
March.

The number of jobless workers rose by 100,000, or 2.9%, from a year
earlier to 3.56 million in March, showing the 18th straight y/y rise.
However, the pace slowed further from the rise of 150,000, or +4.5%, to
3.50 million in March, +250,000 in February and +460,000 in January.

Job losses remained largely in manufacturing, with the pace of
decline in that sector being flat from the previous month.

Meanwhile, job losses in construction as well farming and forestry
decreased.

By contrast, information and communications, wholesale and retail
trade, medical, health care and welfare, scientific research,
professional and technical services, as well as personal and amusement
services continued to create jobs.

The Japanese economy has moved out of the sharp contraction seen
early last year, but the jobless rate is a lagging indicator that
typically follows economic movements after a delay of several months.

The Bank of Japan has said that the severity of the labor and
income conditions have eased, although that the situations remain
severe.

Other details of the report follow:

The number of those who lost their jobs and were looking for work:
April -70,000 y/y at 1.07 million vs. March +50,000.

The number of people who quit their job voluntarily to look for
other openings: April -10,000 y/y at 1.02 million vs. March -20,000.

Separately, the Ministry of Health, Labor and Welfare said that the
ratio of job offers to job seekers at government placement offices stood
at a seasonally adjusted 0.48 in April, down from 0.49 in March. It
means there were only 48 job offers for every 100 people looking for
work.

tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4833 **

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