The Ministry of Health, Labour and Welfare revealed Friday that employment in Japan hit its best record in July, while the unemployment rate has decreased. The country’s job market is showing signs of recovery as various industries sought employees and labour force.
The employment rate in July increased to 0.94 percent from the previous month. The ministry said it is the country’s highest employment rate since May 2008, and was 0.1 percent higher than May of this year. There were about 130,000 job posts opened in July for various industries – electronics, automobile, and manufacturing – credited to better export business. Increase in local and foreign investments, through Abenomics’ initiative and policy, have also helped companies stay in business.
With regard to the country’s unemployment status, people without jobs decreased to 3.8 percent, compared to the previous month’s 3.9 percent. It is also the lowest Japan has had for almost 5 years. The last record was in October 2008. Despite the promising results, Takeshi Minami, an economist at the Norinchukin Research Institute reminded, “We cannot say the job market has been fully recovering.” Prime Minister Shinzo Abe took his post in December with employment issues in the country. Companies have kept the doors of employment mostly closed as the looming increase in tax cause them to barely manage.