Japan Jobless rate for March: 2.5%
- expected 2.5%, prior 2.4%
Job to applicant ratio for March 1.39
- expected 1.40, prior 1.45
A slight increase in the u/e rate in Japan as the coronavirus outbreak bites.
Goldman Sachs have mentioned their analysis suggests a bigger hit to the Japanese labour market from the virus than the GFC – due to heavy loss of jobs in service industries.
Japan’s labour market has a degrre of ‘insulation’ buil;t in due to the difficulty of dismissing full-time workers, pay cuts preferred over job losses and an ageing population (scarce working age people than otherwise) ,