Japan s wage growth has slowed to levels last seen in the aftermath of the 2008 financial crisis as companies have taken a hit from the coronavirus pandemic.
Some economists estimate that the pandemic has forced Japanese households to save about ¥13 trillion ($118 billion), or roughly 4% of Japan's annual consumption.
Japan's unemployment rate worsened to 2.8 percent in April, increasing for the first time in six months, as hiring in the service sector softened under the government's third coronavirus state of emergency, government data showed Friday. The jobless rate climbed from 2.6 percent marked in March, but it was lower…
Dec 25, 2020
Japan’s unemployment rate improved to 2.9% in November, dropping for the first time in five months in a sign that the impact of the novel coronavirus pandemic on the labor market is easing, government data showed Friday.
Separate data from the labor ministry showed the job availability ratio in the reporting month improved to 1.06 from 1.04 in the previous month, up for the second straight month. The ratio means there were 106 job openings in November for every 100 job seekers.
The jobless rate fell from 3.1% in October, down for the first time since it dipped 0.1 point from the previous month to 2.8% in June, when economic activity resumed following the complete lifting of a state of emergency over the virus in late May.