Japan Unemployment Rate

Unemployment in Japan rose to 3% in May 2021.

Published monthly by the Ministry of Internal Affairs and Communication. Updated to the month of May 2021 (published on June 29th, 2021).

Brief Overview of "Unemployment Rate"

The unemployment rate is the ratio of unemployed to the total working population. One needs to be actively searching for work to be recognized as an unemployed individual. In 2019, the Japanese unemployment was one of the lowest among the OECD countries alongside Germany and the Czech Republic. The NAIRU, the Non-Accelerating-Inflation-Rate of Unemployment rate, was considered to lie between 3.5% and 4.5% in Japan. As the current unemployment rate is already below the lower range of the NAIRU, the unemployment rate gap, the difference between the NAIRU and the actual unemployment rate, should be exerting an upward pressure to wage inflation. However, there were no strong wage inflations in recent years in Japan. Therefore, the unemployment rate gap must be a very weak factor for the determination of the wage inflation dynamics in Japan.

For more information, visit the official government page

Source: MIAC, JMA.

Note: Seasonally adjusted labor participation rate is calculated by dividing the seasonally adjusted labor force by population of 15 years old and over.

The Next Release Date: July 30th, 2021

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