Japan's jobless rate fell to 2.5 pc in August

by IANS |

Tokyo, Oct 1 (IANS) Unemployment rate in Japan decreased in August from a month earlier, the government said in a report on Tuesday.

According to the Ministry of Internal Affairs and Communications, the seasonally adjusted jobless rate stood at 2.5 per cent in August, down from 2.7 per cent in July.

Meanwhile, the job availability ratio dropped 0.01 points from July to 1.23, indicating that there were 123 available jobs for every 100 people seeking work in August, separate data from the Ministry of Health, Labour and Welfare showed.

While labour shortages persist, some companies have been holding back on recruitment due to rising costs driven by inflation, Xinhua news agency reported.

New job postings, considered an economic indicator, fell by 6.5 per cent year-on-year, particularly in the hospitality and dining services sectors, where postings dropped by 23.5 per cent.

The ministry attributed the decline partly to a high comparison base from an unusually high volume of job postings from major restaurant chains in 2023.