Japan’s jobless rate falls to 2.5 pct in August

TOKYO, Oct. 1 (Xinhua) — Unemployment rate in Japan decreased in August from a month earlier, the government said in a report on Tuesday.
According to the Ministry of Internal Affairs and Communications, the seasonally adjusted jobless rate stood at 2.5 percent in August, down from 2.7 percent in July.
Meanwhile, the job availability ratio dropped 0.01 points from July to 1.23, indicating that there were 123 available jobs for every 100 people seeking work in August, separate data from the Ministry of Health, Labor and Welfare showed.
While labor shortages persist, some companies have been holding back on recruitment due to rising costs driven by inflation.
New job postings, considered an economic indicator, fell by 6.5 percent year on year, particularly in the hospitality and dining services sectors, where postings dropped by 23.5 percent.
The ministry attributed the decline partly to a high comparison base from an unusually high volume of job postings from major restaurant chains in 2023. ■