Unemployment in Japan

Japan Unemployment | Economic News & Forecasts

Japan - Unemployment

As expected, preliminary data showed the economy contracted in Q1. Record Covid-19 case numbers led the government to introduce quasi-state-of-emergency measures, which along with rising inflation caused private consumption to fall. In Q2, a recovery is under way. Its driving force is private consumption: Most Covid-19 restrictions were scrapped in late March, more than offsetting the drag from higher inflation. Consumer confidence and the services PMI have risen in the quarter so far. Further reopening will boost private spending even more; some foreign tourists will be permitted entry from June. This said, the external sector appears to be dragging on activity, with export growth and the manufacturing PMI sliding in the quarter so far, due to supply bottlenecks and a slowing global economy due to war in Ukraine, Covid-19 lockdowns in China, and higher global inflation and interest rates.

Japan - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate3.4  3.1  2.8  2.4  2.4  

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Japan Unemployment Chart


Japan Unemployment
Note: Unemployment in % of active population.
Source: Statistics Bureau of Japan.

Japan Facts

Value Change Date
Bond Yield-0.02-4.41 %Dec 30
Exchange Rate108.7-0.35 %Jan 01

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