Japan Unemployment Rate Falls to 4.0 Percent

Japan’s unemployment rate fell to 4.0 percent in September from 4.1 percent in the previous month, the government said Tuesday, indicating companies have become willing to hire more workers with the economy recuperating.

The number of unemployed people fell a seasonally adjusted 3.3 percent from August to 2.63 million, with those quitting jobs at their own volition decreasing 7.1 percent to 920,000, the Ministry of Internal Affairs and Communications said in a preliminary report.

By industry, the construction sector added 270,000 jobs month-on-month while agriculture and forestry added 230,000 and manufacturers cut 180,000, the ministry said.

Separate data released by the Ministry of Health, Labor and Welfare showed the nation’s job availability was flat. The ratio of employment offers to seekers was unchanged at 0.95 from August, which means 95 positions were available for every 100 job seekers.

The figures suggest that Prime Minister Shinzo Abe’s economic policies dubbed “Abenomics,” entailing drastic monetary easing and massive public spending, have bolstered the real economy, helping shore up the labor market, analysts said.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza