MNI Japan March Jobless Rate 2.5%; 1 Year High; Feb 2.4%

     TOKYO (MNI) - Japan's seasonally adjusted average unemployment rate stood

at 2.5% in March, up from 2.4% in February and equal to the highest level since

March 2019, according to data from the Ministry of Internal Affairs and

Communications released on Tuesday.

     The number of employed fell 110,000 (0.2%) m/m vs. a rise of 30,000 in

February, while the number of unemployed rose 60,000 (+3.6%) after rising 20,000

in February.

     The number of people who left for other openings rose 10.3% month on month

and the number of people who lost their jobs rose 9.8%. The number of those who

began looking for work fell 2.7% m/m.

     Compared to the previous year, the number of employed rose 130,000 to 67.00

million in March, the 87th straight y/y rise.

     The number of unemployed rose 20,000 year on year to 1.76 million, the

second straight rise.

     The number employed in manufacturing fell 240,000 y/y in March for the

second straight drop. The number employed in accommodation and eating and

drinking services fell 140,000 y/y in March for the third straight drop.

     The latest data showed the spread of the coronavirus is affecting the

labour market and the unemployment rate is expected to rise further in the

coming months.

     The ratio, which indicates how many job openings there are for each job

seeker, was at 1.39, down by 0.06 points from February, the Ministry of Health,

Labour and Welfare said Tuesday.

     March's 1.39 is the lowest level since September 2016 when it was also at

1.39, indicating labour demand is waning as businesses slow amid the 

coronavirus outbreak.

--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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