|
 | 
Apr-30-2008Japan's jobless rate slips to 3.8 percent in March(topic overview)
CONTENTS:
SOURCES
FIND OUT MORE ON THIS SUBJECT
TOKYO (Thomson Financial) - Japan's unemployment rate dipped to 3.8 percent in March from 3.9 percent in the previous month as the medical and welfare sector, transportation, and restaurant and hotel service sector stepped up hiring despite a challenging profit environment due to higher costs of basic materials, government data showed on Wednesday. [1] The male jobless rate rose to 3.8 percent last month from 4.0 percent in February while the female unemployment rate rose to 3.9 percent from 3.8 percent in the previous month, the Ministry of Internal Affairs and Communications said.[1] The jobless rate for men fell to 3.8 percent in March from 4.0 percent in February, while that for women edged up to 3.9 percent from 3.8 percent, the ministry said.[2] In March alone, Japan's jobless rate stood at 3.8 percent, down slightly from 3.9 percent in February for the first improvement in four months, the ministry said.[3]
In the reporting month, the jobless rate for women grew 0.1 percent point from February to 3.9 percent, while that for men dropped 0.2 point to 3.8 percent.[3] The fiscal 2007 average jobless rate for men came to 3.9 percent, down 0.3 percentage point from fiscal 2006 for the fifth straight year of decline, and that for women stood at 3.7 percent, down 0.2 point for the fifth yearly fall.[3]
The unemployment rate fell for the fifth straight year after peaking at 5.4 percent in fiscal 2002, the Ministry of Internal Affairs and Communications said in a preliminary report.[3] The 2007 unemployment rate was better than the rate in the previous fiscal year of 4.1 per cent.[4] In March alone, the nation's unemployment rate stayed at 3.8 per cent, down from 3.9 per cent in February.[4]
Tokyo - Japan's jobless rate hit a 10-year low at 3.8 per cent in the past fiscal year, which ended in March, the government said Wednesday.[4] Japan's household spending in March fell for the first time in four months to 312,565 yen (3,000 dollars), down a real 1.6 per cent from the same month a year before.[4]
In the business year that ended March 31, the number of people without jobs averaged 2.55 million per month, down 160,000 from the previous year for the fifth straight yearly decline, according to the internal affairs ministry.[3] In March alone, the number of jobless people totaled 2.68 million, down 130,000 from a year earlier for the 28th consecutive monthly drop, the ministry said.[3]
The number of job offers in March slipped 4.1 percent from February while that of job seekers dipped 2.2 percent, the labor ministry said.[3] The number of new job offers in March declined 21.3 percent from a year before.[3]
Separate data showed the average ratio of job offers to job seekers in fiscal 2007 dropped 0.04 point from the year before to 1.02. That means there were 102 job offers for every 100 job seekers.[3]
Naoko Ogata, senior economist at the Japan Research Institute, said that the robust headline figure in fiscal 2007 results does not necessarily show a marked improvement in the nation's employment conditions. "The number of job seekers has dropped recently as more people refrained from searching for jobs as the economy slows," she said.[3] A record number of people were employed in fiscal 2007 at 55.23 million, the Ministry of Internal Affairs and Communications said.[4]
The Ministry of Public Management said Wednesday that the total number of jobless last month stood at 2.68 million, down by 130,000 from a year earlier.[5] The total number of jobless in the month stood at 2.68 million, down by 130,000 year-on-year, the Ministry of Public Management said, adding the March figure marked the 28th consecutive month of decline.[2]
The ministry official said it appears more women began job searches and newly entered the labor market in March, resulting in the rise in the jobless rate.[3] Ogata said the jobless rate will not likely shoot up and will continue to move little in the near future, because companies are aware of the need to hire workers to deal with a labor shortage caused by the retirement of baby boomers over the long term.[3]
Economists had expected the jobless rate to come in at 3.9 percent in March, according to a median estimate from the Nikkei business daily.[1] The jobless rate reached 3.6 percent in July last year, hitting the lowest level since February 1998.[3]
The fiscal 2007 rate sank to the 3 percent zone for the first time since a figure of 3.5 percent was recorded in fiscal 1997, reflecting a tightening in the labor market with the recovery of Japanese economy.[3] A ministry official, however, warned that the pace of recovery in employment conditions "has stalled recently," and the brisk fiscal 2007 results were brought about by strong figures in the first half of the fiscal year.[3]
The unemployment rate fell to a low of 3.6 percent last July, the lowest level since February 1998. [1] "As a result, the overall unemployment rate has not been so bad, but we cannot necessarily say that the employment situation is good."[3]
The rate has since been hovering in a tight range between 3.8 percent and 4.0 percent. [3] The March reading was lower than the average market forecast of 3.9 percent in a Kyodo News survey.[3] The ratio in March was a seasonally adjusted 0.95, down 0.02 point from the previous month, the Ministry of Health, Labor and Welfare said.[3]
SOURCES
1. Japan's unemployment rate falls to 3.8 percent in March, better than forecast - Forbes.com
2. Japans jobless rate slips to 3.8 percent in March - International Herald Tribune
3. 2ND LD: FY 2007 jobless rate falls to 10-yr low of 3.8%+
4. Japan's jobless rate falls to 10-year low in fiscal 2007 - Business
5. Japan's jobless rate slips to 3.8 percent in March
GENERATE A MULTI-SOURCE SUMMARY ON THIS SUBJECT:
Please WAIT 10-20 sec for the new window to open...
You might want to EDIT the default search query below:
Get more info on Japan's jobless rate slips to 3.8 percent in March by using the iResearch Reporter tool from Power Text Solutions.
 |
|  |
|
