TOKYO, June 30 — Japan’s unemployment rate rose to 2.9 per cent in May, official data showed today, the third consecutive monthly rise as the coronavirus pandemic takes its toll on the world’s number-three economy. The 0.3-percentage-point rise from April suggests Japan’s first recession...
The 0.3-percentage-point rise from April suggests Japan’s first recession since 2015 is beginning to have an impact on the labour market. — Reuters pic
Another closely watched indicator showed there were 120 jobs available for every 100 jobseekers, compared to 132 jobs in April — the steepest drop since the 1974 oil shock. Analysts also point out that the low rate may not account for millions of people who have simply left the labour market after giving up their search for a job.
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