JAPANESE UNEMPLOYMENT RATE FALLS IN FEBRUARY

March 29, 2011    

by Kay Murchie

Figures today revealed an unexpected fall in Japan’s unemployment rate.

The Ministry of Internal Affairs and Communications said the unemployment rate fell to 4.6% in February – a two-year low and down from January’s rate of 4.9%.

Analysts had expected the rate to remain unchanged.

The number of jobless people currently stands at 3 million – down 240,000 from a year earlier.

Meanwhile, separate figures showed the country’s job availability improved in February for the 10th consecutive month.

The jobs-to-applicants ratio grew to 0.62 in February – meaning 62 jobs were available for every 100 jobseekers.

The figures suggest the jobs market is improving but the country is battling to restore calm after an 8.9 magnitude earthquake and tsunami on 11 March.

The twin disasters have caused billions of pounds worth of damage and will impact on the country’s economic growth.

The World Bank estimates approximately 0.5% will be reduced from growth this year, as a result, and reconstruction could take five years.

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