Japan’s Unemployment Rate Improved to 3.5% in October

Japan’s unemployment rate improved to 3.5 percent in October from 3.6 percent the previous month, with some companies eager to hire women due to labor shortages, government data showed Friday.

The number of unemployed people fell a seasonally adjusted 1.3 percent from the previous month to 2.34 million, the Ministry of Internal Affairs and Communications said, adding the number of people holding jobs slid 0.2 percent to 63.55 million.

The number of unemployed women fell 60,000 to 910,000, while that of unemployed men rose 20,000 to 1.43 million, the ministry said in a preliminary report.

The unemployment rate for women decreased 0.2 percentage point from September to 3.2 percent, though that for men rose 0.1 point to 3.8 percent, it said.

“As some industries such as construction have been trying to adequately staff their operations, the job market has continued to pick up,” a ministry official briefing reporters said.

Separate data showed job availability improved for the first time in four months.

The ratio of employment offers to seekers rose to 1.10 in October from 1.09 in September, which means 110 positions were available for every 100 job seekers, according to the Ministry of Health, Labor and Welfare.

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