— Japan July Jobless Rate MNI Survey Median Forecast: 4.6%
— Japan July SA Jobs -40,000 M/M, 1st M/M Drop In 2 Mo; June +40,000
— Japan July Unemployed +50,000 M/M, 2nd Straight M/M Rise
— Japan July NSA Jobs -200,000 Y/Y, 1st Drop In 4 Mo; June +30,000
— Japan July NSA Unemployed -230,000 Y/Y, 14th Drop; June -360,000
TOKYO (MNI) – Japan’s unemployment rate — national figures minus
the three prefectures hardest hit by the March 11 disaster — rose to
4.7% in July from 4.6% in June as a temporary month-to-month rise in
jobs was lost last month, data from the Ministry of Internal Affairs and
Communications showed Tuesday.
The unemployment rate of 4.7% in July matched the rate in April. In
May, the rate fell to 4.5%, the lowest since February 2009.
The seasonally adjusted unemployment rate for July came in higher
than the median forecast by economists for 4.6% in a survey by Market
News International.
The government is compiling employment and unemployment data for
April and onward without records from the Iwate, Miyagi and Fukushima
prefectures, the hardest hit by the earthquake and tsunami that wrecked
the northeastern Pacific coast.
For the time being, the government will release only national data
minus the three prefectures from the monthly Labour Force survey.
In July, the number of payroll jobs fell a seasonally adjusted
40,000 from the previous month, or 0.1%, to 59.59 million, the first m/m
fall in two months, after +40,000 in June and declines of 100,000 in
May and 140,000 in April.
On the other hand, the number of unemployed rose by a seasonally
adjusted 50,000 in July from the previous month, or 1.7%, to 2.94
million, marking the second consecutive m/m rise, after rising 60,000 in
June and falling 90,000 in May.
On an unadjusted basis, the number of employed people fell by
200,000 to 59.73 million in July compared to a year earlier, posting the
first year-on-year fall in fourth months after rising 30,000 in June and
90,000 in May.
Looking at the longer-term trend, the unadjusted number of jobless
workers was down by 230,000 in July from a year earlier at 2.92 million,
marking the 14th straight year-on-year decline, after falling 360,000 in
June.
Other details of the report follow: The number of workers who
retired or whose contracts expired: July -60,000 y/y at 300,000 vs. June
-30,000 at 300,000.
The number of those who lost their jobs and were looking for work:
July -180,000 at 780,0000 vs. June -220,000 at 740,000.
The number of people who quit their job voluntarily to look for
other openings: July +60,000 at 1.09 million vs. June +40,000 at 1.05
million.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4833 **
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