Jobs
Japan Jobless Rate Falls in Potential Future Boost for BOJ Goal
- Labor shortage could drive up pay in a positive for BOJ, Govt
- Jobs-to-applicant ratio also shows labor market remains tight
Japan’s unemployment rate fell for the first time in three months, potentially feeding into higher wages and providing support for the Bank of Japan’s sustainable inflation goal down the line.
The jobless rate dropped to 2.6% in April, as the number of those without jobs declined by 150,000 from the previous month, the ministry of internal affairs reported Tuesday. Economists had expected the unemployment rate to decline to 2.7%.