Japan Jobless Rate Decreases: Updated Nov. 6, 2024.

Japan jobless rate falls to 2.4% in Sept. as fewer workers dismissed

 Article Source: https://mainichi.jp/english/articles/20241029/p2g/00m/0bu/007000c

Ideas:

In terms of the margin of error 2.4 and 2.5 really don't mean that much but still a decrease in unemployment is always a good sign, unless there was an increase of those who gave up looking for jobs.

Fewer workers being dismissed was another good sign as maybe the Japanese economy is beginning to show some signs of recovery, even if its a small recovery.

If workers are being dismissed in Japan, its a sign that many Japanese companies have adopted western style governing, and have given up keeping workers in the company for a long time, which used to be the norm in many Japanese companies.

Japan is in a so-called labor shortage and as such a tight labor market, which means there are more jobs available than workers in Japan. 

Most likely the 40,000 who left their jobs are those who found new jobs and or those who think they could easily get a job after they left their current job.

Its interesting that many women might have left their current jobs and most likely felt they could find or needed to find a new job, as inflation might have forced them to look for better jobs.

Lets hope those women changing jobs and or women not previously employed were able to find good paying jobs, and especially if they have families. 

Unfortunately, in Japan, many women work in service type jobs which aren't the highest paying jobs, but of course not all women or men are high tech talent workers.

The elderly, among those who have retired and because the labor market needs workers, they have a good chance of getting back in the labor force as a Japan is in a severe labor shortage at this time.

Not all sectors are the same and they don't grow exactly the same so its no surprise some sectors are doing better than other sectors.

And again, its not surprising that the information and communication sector saw an 8.9 percent increase, and at the same time the lifestyle and entertainment services sector, might have decreased due to inflation and high prices as demand might have significantly decreased.

As far as manufacturing is concerned, there might a decrease in demand which might have hurt the manufacturing sector, along with continued parts shortages. There might have even been a lack of interest among young people to work in the manufacturing sector as the work might be considered too hard.

As there is again as so-called labor shortage the 124 jobs to 100 job seekers might mean wages for the new jobs might be higher than normal which might be good and especially for working women in Japan who usually are relegated to low-level service type jobs that don't pay more than minimum wage.

Have a nice day!