November 1st, 2019

Japan Unemployment Rate

Jobless rate in Japan again falls to the lowest since 1993

Published monthly by the Ministry of Internal Affairs and Communication. Updated to the month of September 2019 (published on November 1st, 2019).

Recent data trend:

In February 2019, the unemployment rate in Japan fell back to 2.3%, matching the recent low it reached in May 2018. 2.3% is the lowest level in Japan since January 1993. Despite the recent sign of a slowdown in the global and the Japanese economy, there is yet no sign that any adverse effects have touched the labor market in Japan. The labor market must be near or at full-employment. We do see some sign that the heat in the labor market is exerting an upward wage pressure. There is a clear ...

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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: November 28th, 2019

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