Japan June jobless rate falls to 2.8 percent: government

Paterniano Del Favero
Luglio 28, 2017

On a monthly basis, overall CPI and core CPI were both unchanged.

The seasonally adjusted unemployment rate fell to 2.8 percent from 3.1 percent in May, versus economists' median forecast of 3.0 percent in a Reuters poll, data by the Ministry of Internal Affairs and Communications showed.

That was beneath expectations for 3.0 percent and down from 3.1 percent in May.

Tokyo core CPI, released one month ahead of the national figure, rose by 0.2% from a year earlier, an improvement on the flat reading of May and expectations for an increase of 0.1%.

In addition, the job-to-applicant ratio increased to 1.51 from 1.49, beating estimates of it rising to 1.50.

And if the labour market released alongside the CPI data is anything to go by, the BoJ's attempts to boost inflationary pressures may be helped by a pickup in wage growth.

The leading indicator for the labor market shows the number of job postings for every job seeker, excluding new graduates, at Japan's Hello Work public employment office. That exceeded forecasts for a flat reading, which would have been unchanged. The participation rate came in at 61.0, up from 60.8 a month earlier. Retail sales are tipped to add 0.4% on month and 2.4% on year following the 1.5% monthly decline and the 2.1% yearly gain in May.

Individually, prices for fuel added 0.3% on month, and transportation prices were flat.

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