Japan's jobless rate tops 5% in FY 2009, 1st time in 6 yrs+

TOKYO, April 30 Kyodo -
Japan's seasonally adjusted unemployment rate rose to 5.2 percent in fiscal
2009, deteriorating for the second straight year and topping the 5 percent mark
for the first time in six years as the global economic downturn put pressure on
payrolls, government data showed Friday
The rate, which rose 1.1 percentage points from the previous year, was the
second worst on record after 5.4 percent in fiscal 2002, the Ministry of
Internal Affairs and Communications said in a preliminary report. ''We had a
very tough year,'' a ministry official said.
During the 12 months, a separate report by the labor ministry said, the ratio
of job offers to job seekers was at a seasonally adjusted 0.45, down from 0.77
in fiscal 2008 to the lowest ever level. The ratio means there were 45 jobs
available for every 100 job seekers.
The readings reflected a tough employment condition as companies reduced their
payrolls amid the lingering effect of the global financial turmoil in 2008 and
subsequent economic downturn.
But there are mixed views, given the recovery of the Japanese economy.
''After the unemployment rate peaked in July (at 5.6 percent), Japan has
recovered at a relatively fast rate among developed countries,'' said Kyohei
Morita, chief economist at Barclays Capital Japan Ltd. ''That is largely due to
improving global economic conditions and subsequent recoveries in Japanese
exports. I think we don't need to worry about a double-dip recession.''
In March alone, the jobless rate deteriorated to 5.0 percent from 4.9 percent
in February due largely to sluggish conditions for manufacturers. The result,
which marked the first deterioration in four months, was worse than the average
market forecast of 4.9 percent in a Kyodo News survey.
The number of jobless people was 3.5 million, up 150,000 from a year earlier
for the 17th consecutive month of increase, said the internal affairs ministry.
Analysts say there is a source of concern in the gap between male and female
unemployment rates, and that the gap is a sign of sectoral differences.
The rate for women improved 0.1 point from February to 4.3 percent with the
healthcare and social welfare industry employing 6.5 million people, up 510,000
compared with the same period a year before.
The jobless rate for men deteriorated 0.4 point to 5.6 percent on the back of
continued weakness in manufacturers, which employed 10.58 million, down
310,000.
The construction sector continued to fare poorly with the employment of 4.89
million, down 330,000. The industry has seen a rise in the number of
bankruptcies due apparently to the government's policy of reducing expenditures
for public works.
A total of 1.11 million people lost their jobs involuntarily, or due to their
employers' decisions, up 50,000 on year.
The number of jobholders fell 350,000 to 62.1 million for the 26th consecutive
month of decline.
The ratio of job offers to job seekers was at 0.49 in March, up from 0.47 for
the third straight month of improvement and recovering to levels unseen since
March last year, the Health, Labor and Welfare Ministry said.
==Kyodo
2010-04-30 23:34:37


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