Business & Economy

Unemployment in Japan rose to 3.1 percent in October

Tokyo, Dec 1 (efe-epa).- The unemployment rate in Japan stood at 3.1 percent in October, representing an increase of one tenth compared to the previous month, the government reported Tuesday.

It is the first increase in unemployment in the Asian country in two months, after the indicator remained at 3 percent in September, and places unemployment in the country at its highest level in three years, since reaching 3.1 percent in May 2017.

The number of unemployed people in Japan in the 10th month of 2020 was 2.15 million, an increase of 510,000 people or 31.1 percent year-on-year, according to data published by the Japanese Ministry of the Internal Affairs and Communications.

The number of people with work in the Asian country in October was 66.94 million, 930,000 fewer than in the same month of the previous year, which represents a drop of 1.4 percent.

The number of jobs available per 100 job seekers was 104 in October, compared with 103 in September, which marked the lowest job availability in the country in nearly seven years.

The improvement in availability for October is the first in this area since April 2019, according to figures from the ministry.

Economists warn, however, that labor demand could slow down again in November, when the third wave of COVID-19 infections began in the Japanese archipelago, and may even fall below 100 if the spread of the virus reduces economic activity again.

The availability of employment in the country reached 163 last year, its highest level in 45 years, due to demographic aging.

Japan closed 2019 with an unemployment rate of 2.2 percent, but in recent months there has been an increase due to the impact on the economy due to the COVID-19 pandemic. EFE-EPA


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