Japan’s Unemployment Rate Rises For First Time In 11 Yrs Due To Coronavirus Pandemic

by Dikhyaa Mohanty

As per the recent government report, the availability of jobs in Japan in 2020 has marked a fall in 45 years, but the country’s employment rate has increased for the first time in 11 years due to the Coronavirus pandemic.

According to the Ministry of Health, Labour and Welfare, the job availability ratio fell 0.42 point to 1.18, equating to 118 job openings for every 100 people seeking work.

In 1975 the figure was marked as the fastest slide with a 0.59 point drop which was booked with the figure marking the lowest level since 2014. The Ministry of Internal Affairs and Communications further informed that the jobless rate in 2020 stood at 2.8 per cent, rising 0.4 per cent from the previous year, to book the first increase since 2009.

The statistics agency also said the number of unemployed people in 2020 increased by 290,000 to 1.91 million people, another 11-year high, while the number of employed people dropped by 480,000 to 66.76 million, marking the first decline in eight years. The number of employees furloughed surged by 800,000 to 2.56 million, owing to the virus’ spread.

The Ministry’s data also showed that the figure marked the highest level since comparable data became available in 1968. Ryota Takeda, Minister of Internal Affairs and Communications, stated that the data showed a continued significant impact from the coronavirus pandemic on the labour market. We will closely monitor developments.

News Source – IANS

Image Source – Google

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