The national unemployment rate stood at a near-record 5.4 percent for the third straight month in May, suggesting the deflation-stricken economy is weighing heavily on the job market.

The numbers released Friday by the Labor Force Statistics Office show that 3.75 million people were out of work in May, unchanged from a year ago.

"We can say conditions are holding steady," ministry official Michio Matsumura said. "We must closely watch what develops, including changes in the overall economy."