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Japan's Unemployment Rate Jumps as Covid Restrictions Hit Activity


Japan’s unemployment rate edged up in January as a record wave of Covid-19 infections prompted renewed restrictions that are likely to continue slowing progress in the recovery of the labor market in February and March. The jobless rate rose to 2.8% as the number of people working fell by a seasonally adjusted 190,000 from December, the ministry of internal affairs reported Friday. Analysts had expected the unemployment rate to hold steady at 2.7%. A separate report offered a slightly more encouraging view of the labor market as job offers outnumbered applicants by a greater margin, a leading indicator of the employment trend. There were 120 jobs offered in January for every 100 applicants, compared with 116 positions a month earlier.

Bloomberg - March 4, 2022

View the full story here: https://www.bloomberg.com/news/articles/2022-03-03/japan-s-unemployment-edges-up-in-january-amid-record-covid-wave