The seasonally adjusted unemployment rate in Japan dropped unexpectedly to 2.3 percent in February 2019 from 2.5 percent in the previous month while markets had expected 2.5 percent. It was the lowest jobless rate since September last year. Meanwhile, the jobs-to-applicants ratio remained unchanged at 1.63 and in line with consensus. Unemployment Rate in Japan averaged 2.73 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 2.30 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 2.60 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.