Article by ForexTime
Japan’s unemployment rate fell in December. According to data from the Japanese government on Friday, the availability of jobs in Japan rose to the highest level in more than two decades.
The seasonally adjusted unemployment rate fell to 3.4 percent in December from 3.5 percent in November, compared with economists’ median forecast the jobless rate to remain unchanged.
The jobs-to-applicants ratio rose to 1.15 from 1.12 in November, reaching the highest since March 1992. That compared with the median forecast that the ratio would remain unchanged, data from the labor ministry showed.
The number of new job offers rose 4.7 percent in December from previous month and rose 5.6 percent from the same period a year ago.
Meanwhile, other data showed that Japan’s inflation fell to 0.5 percent in December, the lowest since July 2013 and below the 0.6 percent expected by the street.
With oil prices falling and commodities slumping, Japan is now further away from its target of 2 percent inflation which the Bank of Japan is hoping to achieve with its quantitative easing program (worth 80 trillion yen per year).
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Article by ForexTime
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