Japan's September jobless rate climbed from near 30-year lows and job avail...
TOKYO - Japan’s September jobless rate climbed from near 30-year lows and job availability slipped, government data showed on Friday, suggesting the nation’s tightest jobs market in decades may be reaching its peak.
Japan’s ageing and declining population has led to a tight labour market. But wage increases remain weak and companies are wary of passing on more of their profits to employees due to uncertainty over the economic outlook. The seasonally adjusted unemployment rate rose to 2.4%, compared with economists’ median forecast of 2.3%, figures from the Ministry of Internal Affairs and Communications showed.The jobs-to-applicants ratio fell to 1.57 in September, and compared with the median forecast of 1.59, data from the health ministry showed.“The employment environment remains favourable as domestic demand is solid and there is also a labour shortage,” said Yusuke Shimoda, senior economist at Japan Research Institute.
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