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Japan’s household spending up 1.3% in February; unemployment unchanged

March 30, 2007
By Ken Worsley


On Friday, the Ministry of Internal Affairs and Communications announced that February household spending in Japan increased by 1.3% compared to February 2006, reaching an average 272,763 yen per household. The increase was greater than estimated by most observers, this one included. We projected a 0.2% increase in February household spending, while Bloomberg’s survey of 29 economists predicted a 0.6% rise.

A quick breakdown of some key numbers:

  • Overall household income rose 2.3% year-on-year, up for the fifth straight month
  • The income of household heads increased 2.2%, rising for the eighth straight month
  • Disposable income was up 2.8% from February 2006

In a separate report on employment, the Ministry also announced:

The number of employed persons in February 2007 was 63.02 million, an increase of 300 thousand or 0.5% from the previous year…The number of unemployed persons was 2.70 million, a decrease of 70 thousand or 2.5% from the previous year. The unemployment rate, seasonally adjusted, was 4.0%.

That represents the fourth straight month with the unemployment rate at that level.

Filed Under Consumer Spending, Unemployment 

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Comments

2 Responses to “Japan’s household spending up 1.3% in February; unemployment unchanged”

  1. Japan News for March 31, 2007 » Japan Probe on March 31st, 2007 8:12 am

    […] Japan’s seasonally adjusted unemployment rate stood at 4% in February, unchanged from the previous month, the government said Friday. [Link] […]

  2. Cabinet Office: March Economy Watcher’s Index : Japan Economy News & Blog on December 2nd, 2007 10:24 pm

    […] accounts for just over half of Japan’s economy, may finally be picking up. On March 30, the Ministry of Internal Affairs and Communications announced that February 2007 household spending in J…, reaching an average 272,763 yen per household - a figure higher than most economists anticipated. […]

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