The unemployment rate in Japan edged up to 2.4 percent in October of 2018 from a 4-month low of 2.3 percent in the previous month and slightly above market expectations of 2.3 percent. Meanwhile, the jobs-to-applicants ratio fell unexpectedly to 1.62 from 1.64 in September and missing estimates of 1.65. Unemployment Rate in Japan averaged 2.73 percent from 1953 until 2018, 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 2.30 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 2.40 in 12 months time. In the long-term, the Japan Unemployment Rate is projected to trend around 2.80 percent in 2020, according to our econometric models.