Japan’s labor market showed further signs of tightening in October, a development that will help keep upward pressure on wages.
The job-to-applicants ratio climbed to 1.35 last month, meaning there were 135 jobs offered for every 100 applicants, the labor ministry reported Tuesday. It was a slight rise from 134 positions a month earlier, and matched the economists’ forecast.
A separate report also showed the unemployment rate remained low in October. The jobless rate stayed at 2.6%, according to the ministry of internal affairs. The number of people with jobs increased by around half a million compared to the year before, led by gains in the hospitality and medical sectors.