The unemployment rate in Japan fell to 2.2 percent in July 2019, the lowest since October 1992 and below market expectations of 2.4 percent. The jobs-to-applications ratio declined to 1.59, the lowest since March 2018 and also below consensus of 1.61. Unemployment Rate in Japan averaged 2.72 percent from 1953 until 2019, reaching an all time high of 5.50 percent in June of 2002 and a record low of 1 percent in November of 1968.
Unemployment Rate in Japan is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Japan to stand at 2.50 in 12 months time. In the long-term, the Japan Unemployment Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.