-
Important news
-
News
-
Shenzhen
-
China
-
World
-
Opinion
-
Sports
-
Kaleidoscope
-
Photos
-
Business
-
Markets
-
Business/Markets
-
World Economy
-
Speak Shenzhen
-
Leisure
-
Culture
-
Travel
-
Entertainment
-
Digital Paper
-
In-Depth
-
Weekend
-
Lifestyle
-
Diversions
-
Movies
-
Hotels and Food
-
Special Report
-
Yes Teens!
-
News Picks
-
Tech and Science
-
Glamour
-
Campus
-
Budding Writers
-
Fun
-
Futian Today
-
Advertorial
-
CHTF Special
-
Focus
-
Guide
-
Nanshan
-
Hit Bravo
-
People
-
Person of the week
-
Majors Forum
-
Shopping
-
Investment
-
Tech and Vogue
-
Junior Journalist Program
-
Currency Focus
-
Food and Drink
-
Restaurants
-
Yearend Review
-
QINGDAO TODAY
在线翻译:
szdaily -> World Economy -> 
Japan’s low jobless rate conceals deeper labor pain
    2020-06-01  08:53    Shenzhen Daily

JAPAN’S labor market in April appeared to be weathering a severe slowdown in economic activity due to the coronavirus pandemic, but a closer look at official data released Friday revealed a less rosy picture.

Japan’s jobless rate rose to 2.6 percent in April from 2.5 percent in the previous month, a far cry from the 14.7 percent in the United States in April, a post-World War II record, and the 7.7 percent in the eurozone in March. But economists say the small rise in the official unemployment rate masks the full extent of the pain.

Analysts fear rises in the jobless rate could put the brakes on personal consumption in Japan and delay a recovery of the world’s third-largest economy, which already slipped into recession in the first quarter.

Among those categorized as employed, those on furlough more than tripled to 4.2 million in April from the previous month. Although many furloughed workers will eventually go back to their jobs, their inclusion in April’s unemployment figures would indicate a rate of 11.4 percent, Dai-ichi Life Research Institute said.

Friday’s data also showed the number of workers fell by a seasonally adjusted 1.07 million in April from the previous month, the largest drop since a 1.13 million decline in January 1963, a Ministry of Internal Affairs and Communications official said.

That compared with an increase of just 60,000 in the number of unemployed people, which only includes those who were actively seeking employment during the survey period, among other criteria.

Japanese firms, saddled with large workforces and excess capacity, laid off workers during the 2008-2009 global financial crisis and the collapse of the global high-tech bubble in the early 2000s.

Now many are facing pressure to reduce labor costs by cutting jobs as they struggle with a decline in economic activity, especially in the service sector and at small and mid-sized firms.

The workers in Japan facing the brunt of those cuts are often workers without job security -- part-timers, contract workers and temporary workers, who account for 36.2 percent of the total number of workers.

(SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn