Japan’s unemployment rate fell in November
As of November 2022, Japan’s seasonally adjusted unemployment rate stood at 2.5%, down 0.1% from October, while the availability of jobs stayed at its highest level since March 2020, according to the Ministry of Internal Affairs.
The number of employed individuals in the country was 67.24 million, while the number of unemployed individuals was 1.65 million.
Particularly, the hospitality and dining industry added 190,000 jobs from the previous year to 3.93 million, and the manufacturing sector added 160,000 jobs to a total of 10.45 million. Furthermore, 310,000 employees have taken leave from work, an increase of 70,000 compared to last year. Officials attribute the increase to the spread of COVID-19.
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Data from the ministry also revealed that the ratio of job openings to applicants remained at 1.35 in November, marking the end of a 10-month improvement in this indicator. Moreover, some organisations are cautious about hiring to avoid overstaffing, citing issues related to the pandemic resurgence as well as concerns about the economic impact of the weaker yen and rising consumer prices, NHK reported.