Japan's jobless rate up 5.2% in May

10:40, June 29, 2010      

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Japan's jobless rate rose a seasonally adjusted 5.2 percent in May, the Ministry of Internal Affairs and Communications said in a report on Tuesday, higher than a median market forecast of 5.0 percent and marking the third straight month of rise.

According to the ministry's preliminary figures, there were 3. 47 million jobless people in the recording month, on a par with figures revealed the same time a year earlier, as the nation's employment landscape still remains severe.

The number of job openings for those seeking employment improved in May, as the ratio of job offers to job seekers went up to 0.50 from 0.48 in April, beating economists' expectations for 0. 49 after several months at the record low 0.48, according to a separate report released the same day by the Health, Labor and Welfare Ministry.

The number of employed persons eased 0.7 percent on year to 62. 95 million and analysts do not expect a lot of growth in employment or payrolls in over the next few months because companies still carry excess labor.

Tuesday's result reflects a still-fragile recovery for the world's second biggest economy, where an export boom has been slow to translate into sustained improvements for workers and families.

A separate government report showed household spending in May fell a real 0.7 percent from a year earlier as incomes retreated. Average monthly household income fell a real 2.4 percent from a year earlier to 421,413 yen (4,714 U.S. dollars).

Source: Xinhua


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