Labour market data from Japan for March

Job to applicant ratio for March, 1.59

  • expected 1.59, prior 1.58

Unemployment rate 2.5%

  • expected 2.5%, prior 2.5%

Low unemployment, on the face of it not much labour market slack .... and yet wage growth is still very very slow. The BOJ and wider Japanese administration are wanting to see wages grow faster to lead to some inflation and hit the 2% target. Not happening.

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Coming up later from Japan, the focus for the day: