— Japan Aug Jobless Rate 4.2%; July 4.3%; MNI Forecast 4.3%
— Japan Aug Employment -20,000 Y/Y Vs July -90,000
— Japan Aug Employment Posts 9th Straight Y/Y Drop
TOKYO (MNI) – Japan’s average unemployment rate dropped to 4.2% in
August from 4.3% in July as the number of unemployed dropped, while
payrolls continued to fall from year-earlier levels, data from the
Ministry of Internal Affairs and Communications showed Friday.
The seasonally adjusted unemployment rate for August came lower
than the median forecast for 4.3% in a survey of economists by MNI.
The 4.2% unemployment rate in August was the lowest since September
2011, when it was also at 4.2%.
In August, the number of payroll jobs fell by 60,000 (-0.1%) from
the previous month to a seasonally adjusted 62.63 million, marking the
second consecutive month-on-month drop after -30,000 in July.
But the adjusted number of unemployed fell by a sharp 100,000
(-3.5%) to 2.72 million in August, compared with +10,000 (+0.4%) at 2.82
million in July.
Looking at the longer-term trend, the unadjusted number of employed
people fell 20,000 on year to 62.81 million in August, posting the ninth
straight year-on-year drop. The pace of decline decelerated from -90,000
in July.
The medical and welfare industry continued to hire workers while
employment in the wholesale and retail sector now posted an increase.
The workforces fell in manufacturing, accommodation and food
services as well as farming.
Meanwhile, the unadjusted number of jobless workers fell 180,000 on
year to 2.77 million in August, after falling 240,000 in July. It was a
27th consecutive drop.
The data also showed that the number of those who lost their jobs
continued to fall from year-earlier levels in August, while the number
of people who quit their jobs voluntarily to look for other openings
rose.
tokyo@mni-news.com
** MNI Tokyo Newsroom: 81-3-6860-4822 **
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