Japan Jobless Rate:

 https://mainichi.jp/english/articles/20201201/p2g/00m/0bu/050000c

Article:

TOKYO (Kyodo) -- Japan's unemployment rate worsened to 3.1 percent in October, its highest level in over three years, as the coronavirus pandemic continues to cast a pall over the labor market, government data showed Tuesday.

The job availability ratio, however, marked its first improvement since April 2019 as hiring picked up slightly in October, though economists warn of the potential impact of resurging coronavirus cases.

The ratio rose to 1.04 from 1.03 in September, meaning that there were 104 job openings for every 100 job seekers, according to the Ministry of Health, Labor and Welfare.

Ideas and Commentary:

There is nothing unexpected here as businesses of all sizes are feeling the affects of the continued virus situation. 

The jobs openings, for graduates at one time before the pandemic was almost 2 jobs for every new graduate. 

Japan over the years usually has one of the lowest unemployment rates among OECD countries. 

The fact that is only 3.1 percent is still not bad.

However, we always have look at the big picture in that what kinds of jobs are really being offered to those who do have employment? Are they livable wage types jobs, managerial type jobs, knowledge based jobs, tech jobs,  quality manufacturing jobs etc.

Or are they temporary jobs  low wage retail jobs, contract only jobs etc.?

Just because the rate is 3.1 percent doesn't mean all is well.

Article:

"The labor market is gradually worsening even though government support is helping to blunt the deterioration," said Takuya Hoshino, an economist at the Dai-ichi Life Research Institute.

"There are many companies relying on government help (to maintain jobs) and are holding up without letting people go or going bankrupt. The labor market took a relatively modest hit from the first wave of coronavirus cases, but another wave is worrying," Hoshino said.

Japan's jobless rate last stood at 3.1 percent in May 2017.

Ideas and Commentary:

Japanese companies, it seems so far, have been able to handle the virus situation much better than other countries, as it seems they don't or didn't just automatically layoff or fire employees..

I think, for the most part, its a testament to the employment culture in Japan, and that it still values employees as a resource and a valuable resource and not just a cost, like lets say some companies do in the US and at the first onset of trouble will fire or layoff an employee as they don't see employees as a resource and an important part of the company but just a cost to be removed at the first sign of trouble. Of course there are positives and negatives in both ways of doing things.

However, there is always a however or but in economics or business, if the virus continues on and we don't see the vaccines soon the next virus wave might be enough to cause some Japanese companies to begin the think even more of survival. 

Article:

The jobless rate for men rose to 3.4 percent on a seasonally adjusted basis, up 0.2 point from the previous month, while that for women was unchanged at 2.7 percent, according to the Ministry of Internal Affairs and Communications.

The total number of unemployed people increased 80,000 to 2.14 million as Japan had 66.58 million, up 30,000, on payrolls.

The recent batch of data for October, including industrial output, points to a continuing economic recovery after the pandemic caused the worst-ever quarterly contraction for Japan in the April-June period.

However, a resurgence of coronavirus cases is beginning to raise uncertainty over the outlook for the world's third-largest economy while other countries also struggle to contain the spread of the virus.

Ideas and commentary:

Its interesting that the unemployment rate for men is higher than for women. But it could mean nothing more than the jobs women hold in Japan are somewhat more needed. 

Considering that Japanese women really hold few real CEO or managerial level positions, it must or might mean the, lower level jobs, in this case, just might be more important for now.

And or whatever kinds of jobs Japanese woman are holding and the companies they work for are just holding the line on being able to keep their workers employed for as long as they can.

It would be interesting to see a breakdown of just whats of jobs are being eliminated and what kinds of jobs are being maintained. 

Article:

The government has provided support to companies struggling amid the pandemic by trying to keep workers employed through the payment of subsidies, which economists say has shielded the labor market from a more serious hit.

The subsidy program is expected to be extended to February as part of an extra budget for the current fiscal year through next March.

The number of people who voluntarily left their jobs increased 90,000 from September while those forced to leave rose 40,000.

The services industry has been facing a hard time as fears of the virus spreading further has prompted consumers to feel hesitant to go out and eat as well as take trips.

The number of people employed in the sector that includes hotels and restaurants declined by 430,000 from a year earlier, by far the largest drop among all industries, the internal affairs ministry said. The figure is unadjusted for seasonal factors.

Ideas and Commentary:

Its not a surprise that those in the hotel and restaurant industry were hit hard and consumers and tourists have dropped off in large numbers. When there is a 99 percent drop in international tourists and many domestic tourists opting not to travel and add in a drop in consumers not going to restaurants has had a huge affect.

But for the most part, it seems the Japanese government has tried to shield as many businesses as it can but will it be enough in the future if the virus situation continues.

But the real test will be just how does the economy really come back and what about all the people who took voluntary leave and or quit? What is their future after things maybe begin to settle down with the potential of vaccines in the future.

Just how fast can the economy get back to some kind of normalcy or a new normalcy?

The news that the Japan just passed a law that vaccines are potentially free for all Japanese citizens and foreigners too is promising to try and get some kind of real normalcy in society and the economy.

But how long it take to get back to pre-pandemic levels of activity in all areas of the economy?