— See Separate Table For Details of Individual Forecasts
TOKYO (MNI) – Japan’s seasonally adjusted unemployment rate is seen
at 4.9% in February, unchanged from January and December, while the
ratio of job offers to seekers appears to have risen to 0.62 from 0.61
in January, according to the median forecasts of analysts surveyed by
Market News International.
The Ministry of Internal Affairs and Communications will release
the unemployment rate while the Ministry of Health, Labor and Welfare
will release the ratio of job offers to job seekers, both at 0830 JST on
Tuesday, March 29. (2330 GMT Monday).
The January jobless rate of 4.9% was below the record high of 5.5%
seen in July 2009, April 2003, August and June 2002, but still well
above the 4.3% rate seen at the start of 2009.
The ratio of job offers to job seekers, seen as a coincident
indicator for the economy, has been gradually improving, after hitting a
record low of 0.43 in July, August, September and November 2009 (meaning
there were only 43 job offers for every 100 seekers at government
placement offices).
An improvement to 0.62 in February would mark the highest figure
since January 2009, when the ratio stood at 0.64.
Economists said labor conditions have been gradually improving.
But Yoshiki Shinke, senior economist at Dai-Ichi Life Research
Institute, said that in the aftermath of the March 11 earthquake and
tsunami that hit northeast Japan, factory production has been reduced
sharply, which in turn will have a negative impact on job security.
skodama@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4838 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
