Japan Posts 2.6 Percent Surge in August Unemployment Rate
(MENAFN) Japan's unemployment rate climbed to 2.6% in August, up from 2.3% in July, reaching its highest level in over a year, according to official figures released Friday.
Data from the Ministry of Internal Affairs and Communications revealed a sharp rise in joblessness, with the number of unemployed increasing 9.1% to 1.79 million. Meanwhile, the total number of employed individuals dropped 0.3% to a seasonally adjusted 68.1 million.
Among those without jobs, 770,000 people left their positions voluntarily, a 13.2% increase from the previous month. Additionally, 430,000 individuals were dismissed, marking a 19.4% month-on-month rise, the ministry reported.
In a separate release, the Ministry of Health, Labor and Welfare stated that the country's job-to-applicant ratio slipped to 1.20 in August, down 0.02 points from July. This figure indicates there were 120 job openings available for every 100 jobseekers.
The ministry reported that the job availability ratio declined for the first time in two months, citing reduced hiring activity as companies faced budget pressures and struggled to offset rising costs by raising consumer prices.
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