Japan Job Figures Best In 23 Years, Unemployment Down

Japan’s job availability figures continued to improve in August to their highest level in more than 23 years, the government announced today, reflecting companies’ willingness to hire more employees, reports Japan Times.

The ratio of job offers to seekers climbed from 1.21 in July to 1.23 in August, the highest since January 1992, when it stood at 1.25, the Health, Labour and Welfare Ministry said. The latest result means that 123 positions were available for 100 job seekers.

Japan: Unemployment Rate Falls

Separate data showed the country’s unemployment rate deteriorated to 3.4% in August from 3.3% the previous month. The number of unemployed people increased a seasonally adjusted 1.8% from July to 2.24 million, the Ministry of Internal Affairs and Communications said in a preliminary report.

The data showed that the number of those leaving their jobs “involuntarily” for reasons such as mandatory retirement rose by 9.8% to 670,000.

The unemployment rate for men and women remained unchanged at 3.5% and 3.2%, respectively.

Source: Staffing Industry Analysts Daily Newsfeed