Japan Unemployment Rate

Japan’s unemployment stood at 2.6% in May 2024, holding steady for the fourth straight month and matching market forecasts. It remained the highest jobless rate since September 2023, as the number of unemployed edged down by 10 thousand to 1.82 million while employment added 10 thousand to a three-month top of 67.61 million. The labor force rose by 10 thousand to 69.44 million, and those detached from the labor force fell by 150 thousand to 40.44 million. The non-seasonally adjusted labor force participation rate increased to an eight-month peak of 63.3% in May, from 62.9% in the same month a year earlier. Meanwhile, the jobs-to-applications unexpectedly fell to 1.24 in May from the prior 1.26, marking the lowest level in two years.