Japan’s unemplyment rate falls to 9 year low

May 29, 2007
By Ken Worsley

I suppose it’s time for some good news. This morning, the Ministry of Internal Affairs and Communications announced that Japan’s unemployment rate had dropped to 3.8 percent in April, its lowest level since March 1998. Most analysts had predicted that the unemployment rate would land somewhere around 4.0 percent.

The unemployment rate among male workers in the 15-24 age bracket was at 8.0 percent, and was the highest of any age group, though it was down 1.7 percent from last month.

So, the question remains: will the tighter job market lead to wage increases? The Ministry of Health, Labor and Welfare also announced that for every job seeker, there were 1.05 positions available in April (more on that report in a separate post). We’re wondering if this isn’t a temporary upswing as companies fill out positions emptied by retiring baby boomers…

Filed Under Labor and Wages, Unemployment