Japan's unemployment rate rises to 3.8% in August
Japan's unemployment rate rose to 3.8 per cent in August from a nine-year low of 3.6 percent the previous month, worse than market expectations, official data showed Friday.
By Agencies |
TOKYO: Japan's unemployment rate rose to 3.8 per cent in August from a nine-year low of 3.6 percent the previous month, worse than market expectations, official data showed Friday.
But the total number of unemployed declined by 230,000 from a year earlier to 2.49 million in August, the Ministry of Internal Affairs and Communications said.
Economists had on average expected the jobless rate to hold steady at 3.6 per cent in August.
The unemployment rate is watched closely for evidence of expanded hiring by Japanese companies and positive knock-on effects for consumer spending.
In a separate report, the labour ministry said the ratio of job offers to job seekers fell from 1.07 in July to 1.06 in August, which means there were 106 jobs available for every 100 job seekers.
Meanwhile, Japan's average monthly household spending increased a real 1.6 per cent in August from a year earlier to 296,035 yen (2,563 dollars), the Ministry of Internal Affairs and Communications said.
Household spending is one of the key indicators of personal consumption, which accounts for about 55 percent of Japan's gross domestic product.
But the total number of unemployed declined by 230,000 from a year earlier to 2.49 million in August, the Ministry of Internal Affairs and Communications said.
Economists had on average expected the jobless rate to hold steady at 3.6 per cent in August.
The unemployment rate is watched closely for evidence of expanded hiring by Japanese companies and positive knock-on effects for consumer spending.
In a separate report, the labour ministry said the ratio of job offers to job seekers fell from 1.07 in July to 1.06 in August, which means there were 106 jobs available for every 100 job seekers.
Meanwhile, Japan's average monthly household spending increased a real 1.6 per cent in August from a year earlier to 296,035 yen (2,563 dollars), the Ministry of Internal Affairs and Communications said.
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Household spending is one of the key indicators of personal consumption, which accounts for about 55 percent of Japan's gross domestic product.
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