Japan Unemployment Rate

Japan’s unemployment rate ticked up to 2.5% in October 2024 from September's eight-month low of 2.4%, aligning with market estimates. The number of unemployed added 30 thousand to 1.71 million while employment increased by 160 thousand to a record top of 67.98 million. The labor force rose by 180 thousand to 69.67 million, and those detached from the labor force decreased by 170 thousand to 40.20 million. The non-seasonally adjusted labor force participation rate increased to 63.5% in October from 63.1% in the same month a year earlier. Meanwhile, the jobs-to-applications ratio reached a six-month peak of 1.25 in October, up from the prior 1.24.