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--MNI June Jobless Rate Median Forecast 3.0%
--Japan June Employment +610,000 Y/Y; May +760,000
TOKYO (MNI) - Japan's Labor Force Survey from the Ministry of Internal
Affairs and Communications released Friday.
* The seasonally adjusted average unemployment rate fell to 2.8% in June
from 3.1% in May, returning to the rate seen from February to April this year,
which was the lowest since June 1994, when it was also at 2.8%. The drop in the
unemployment rate in June was the first since February this year, when it fell
to 2.8% from 3.0% in January.
* The number of employed rose 120,000 (+0.2%) on month vs. a drop of 30,000
(-0.0%) in May, while the number of unemployed fell 160,000 (-7.8%). The number
of people who left for other openings fell 11.0% on month and the number of
people who lost their jobs dropped 3.8%.
* June jobs data showed a continued tight labor supply in some sectors but
this has not led to a significant rise in average wages. Companies are generally
reluctant to raise base wages, which would increase their fixed labor costs.
* Compared to the year before, the number of employed rose 610,000 to 65.83
million in June, the 54th straight year-on-year rise, following +760,000 in May.
* The number of unemployed fell 180,000 on year to 1.92 million, the 85th
consecutive year-on-year drop, after -70,000 the previous month.
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