Japan’s unemployment rate has fallen for the first time in three months, potentially feeding into higher wages and providing support for the Bank of Japan’s sustainable inflation goal down the line.
The jobless rate dropped to 2.6% in April, down from 2.8% in March, the internal affairs ministry reported Tuesday. Economists had expected the unemployment rate to decline to 2.7%. The number of those without jobs declined by 150,000 from the previous month.
Separate data showed the jobs-to-applicants ratio remained unchanged from the previous month at 1.32, meaning there were 132 jobs available for every 100 applicants and indicating continued relative tightness in the labor market.