3 years ago
Japan's unemployment rate hit a three-year high in October, according to government data.
The rise in unemployment rate has been linked to corona virus epidemic. Japan says business has been badly affected by epidemic, which has also affected employment.
According to Japan's Ministry of Internal Affairs and Communications, 80,000 people became unemployed in Japan in October, bringing total number of unemployed to 2.14 million.
In Japan, jobless rate rose to 3.4 percent from a 0.2 percent increase in September compared to September, but unemployment rate for women remained unchanged at 92.7 percent.
Similarly, employment availability rate rose from 1.03 in September to 1.04 in October, leaving 104 vacancies for every 100 people, and this is the first time since April 2019 that this has improved. Even in Corona period, increasing employment availability is seen as a positive indicator.
Japanese government has proposed various tax breaks as a relief to companies in financial crisis due to epidemic. According to economists, Japan has saved labor market from a complex crisis.
Relief program is scheduled for next February, but has been extended to March.
