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Japan Unemployment Rate Unexpectedly Increased to Seven-Month High in June
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Japan’s unemployment rate unexpectedly rose to a seven-month high in June, adding to concern consumer spending will stall.
The jobless rate climbed to 5.3 percent, the statistics bureau said today in Tokyo. The median forecast of 26 economists surveyed by Bloomberg News was for the rate to stay at 5.2 percent. Household spending rose 0.5 percent from a year earlier, a separate report showed.
Recent data indicate the world’s second-largest economy continued to expand last quarter, albeit at a slower pace as export growth moderated. Companies are still reluctant to increase their personnel costs, according to economist Yoshimasa Maruyama.
“Because young people aren’t getting hired, I... Full Story |
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Submitted Jul 29, 2010 7:53pm
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