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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
JAPAN DATA
Japan's Oct jobless rate ticked down to 2.5%, versus a 2.6% forecast and 2.6% prior outcome. We are still above earlier 2023 lows at 2.4%, but comfortably off highs of 2.8% (seen in March). The job to applicant ratio ticked up to 1.30 from 1.29 prior (1.29 was also the market consensus).
- The detail on the unemployment rate doesn't look as strong, with the number of employed persons dropping 70k in the month, while the participation rate fell to 63.1% from 63.3%. The number of unemployed fell by 20k in the month.
- For the job-to-applicant ratio, this is the first rise since late last year. The chart below overlays this index against the unemployment rate. The new job to applicant ratio also ticked higher to 2.24 from 2.22.
- The authorities will be hoping this is the start of firmer labor market trends, ahead of key wage negotiations early next year.
- Coming up soon is the Q3 Capex/company profits data.
Fig 1: Japan Jobless Rate Versus Job-To-Applicant Ratio (Inverted
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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