Placeholder canvas

Japan jobless rate edges up to 3.4% in August

Date:

A separate survey showed that there were 123 job offers for every 100 job hunters in August, or a ratio of 1.23, the highest such figure in 23 years.

Japan’s jobless rate edged up to 3.4 percent in August, up slightly from the previous month and higher than analysts’ expectations, official data showed Friday.

That was higher than July’s 3.3 percent rate. Analysts had predicted the August rate would remain unchanged from the previous month.

A separate survey showed that there were 123 job offers for every 100 job hunters in August, or a ratio of 1.23, the highest such figure in 23 years.

The closely-watched labour index, which was at 1.21 the previous month, showed that Japan’s labour market remained tight despite the slight gain in the jobless rate.

The internal affairs ministry also said household spending rose 2.9 percent year-on-year in August following a 0.2 percent decline in July.

On Thursday, central bank data showed that a slowdown in China and weakness at home dented Japanese firms’ confidence last quarter, suggesting the world’s third-largest economy has slipped into recession.

The disappointing Tankan survey supplied the latest evidence that Prime Minister Shinzo Abe’s growth blitz, dubbed Abenomics, was faltering, as speculation grows that the Bank of Japan would have to expand its massive asset-buying plan later this year.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Assam Police Makes First Arrest In Connection With Amit Shah’s Doctored Video

New Delhi: Assam Police on Monday, made a significant...

IPL 2024: Phil Salt’s Half-Century Guides KKR To Seven-Wicket Victory Over DC

Kolkata: Phil Salt's explosive half-century propelled KKR to a...

India’s Future Will Be Space Industry, Drones, Semi Conductors: EAM Jaishankar

New Delhi: External Affairs Minister S. Jaishankar, during an...