Unemployment and other economic indicators of Japan

According to the Ministry of Internal Affairs and Communications of Japan, unemployment fell to 2.7% in October, compared with 2.8% in September. This indicator has become the lowest since March of this year. Analysts predicted that the indicator would remain at the September level.

The number of unemployed last month decreased by 3.7% compared to September and amounted to 1.82 million people. At the same time, another important indicator of the labor market showed that there were 115 open vacancies for 100 job seekers compared to 116 in September. Experts expected it to be 117.

Another economic indicator of Japan was also published today. We are talking about the volume of industrial production, which increased by 1.1% in October compared to the previous month. This indicator increased for the first time in 4 months, against the background of the resumption of work of industrial enterprises. At the same time, analysts predicted a stronger growth of 1.8%.

In annual terms, compared to October 2020, industrial production decreased by 4.7%. In September, it fell by 5.4% on a monthly basis and by 2.3% on an annual basis.

The number of houses, the construction of which was started in the country last month, increased at the highest rate in 5 years – by 10.4%. Experts expected an increase of only 5.2%.