December 27th, 2019

Japan Unemployment Rate

Jobless rate in Japan remains at a rock-bottom rate.

Published monthly by the Ministry of Internal Affairs and Communication. Updated to the month of November 2019 (published on December 27th, 2019).

Recent data trend:

The job market in Japan seems to be passing through its cycle peak. The unemployment rate in October 2019 remained unchanged at 2.4%. The rate has been in a very narrow range between 2.3% and 2.6% in the last 2 years. The Japanese labor market has been in a virtual full-employment status for some time now. Despite the shrinking working population, the Japanese labor market has managed to expand its working population at around the annual rate of 1% by raising the labor participation rate. Th...

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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. Japanese unemployment rate has been one of the lowest among OECD countries alongside South Korea and Norway. 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 NAIRU and the actual unemployment rate, should be exerting an upward pressure to wage inflation. Evidently, though, the gap must be a very weak factor for the determination of 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: January 31st, 2020

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