Job availability in March improved to a level last seen more than 26 years ago, government data showed Friday, with companies hunting for workers in a tight labor market.
The ratio of job offers to job seekers stood at 1.45 in March, the highest since November 1990 during the time of the asset-inflated bubble economy. The figure, which improved from 1.43 in February, means that 145 positions were available for every 100 job seekers, according to the data of the Ministry of Health, Labor and Welfare.
The jobless rate was unchanged at 2.8 percent in March after falling below the 3 percent mark in February, while household spending, a key indicator of private consumption, dropped 1.3 percent from a year ago to ¥297,942, the Ministry of Internal Affairs and Communications said.