Japan Jobless Rate Unexpectedly Eases

Japan’s unemployment rate fell to 2.5% in April 2026, below both market expectations and March’s 2.7% reading. The figure marked the lowest jobless rate since July 2025, as the number of unemployed decreased by 70 thousand to an eight-month low of 1.79 million. Meantime, employment jumped by 610 thousand to a record high of 68.76 million, while the labor force increased 53 thousand to a record 70.55 million. The number of people outside the labor force declined by 540 thousand to a record low of 39.00 million. On a non-seasonally adjusted basis, the labor force participation rate was up to 64.4% from 63.6% in March and 63.7% a year earlier. Simultaneously, the jobs-to-applicants ratio held steady at 1.18, in line with forecasts.

Japan’s unemployment rate rose to 2.7% in March 2026, slightly above market expectations and up from 2.6% in the previous month. The number of unemployed increased by 10 thousand to 1.86 million. Meanwhile, employment declined by 120 thousand to an 11-month low of 68.15 million, while the labor force shrank by 100 thousand to a seven-month low of 70.02 million. The number of people outside the labor force rose by 80 thousand to a seven-month high of 39.54 million. On a non-seasonally adjusted basis, the labor force participation rate edged up to 63.6% from 63.5% in February and was slightly higher than 63.3% a year earlier. Meanwhile, the jobs-to-applicants ratio stood at 1.18, in line with forecasts but easing from 1.19 in February.

Japan’s unemployment rate was at 2.6% in February 2026, compared with January's 1-1/2-year high and market forecasts of 2.7%. The number of unemployed fell by 60 thousand to 1.85 million. Meantime, employment added 10 thousand to 68.27 million, while the labor force increased 40 thousand to 70.12 million. The number of people outside the labor force edged up 10 thousand to a five-month high of 39.46 million. On a non-seasonally adjusted basis, the labor force participation rate was at 63.5%, unchanged from January but up from 63.2% a year earlier. Meanwhile, the jobs-to-applicants ratio stood at 1.19, slightly above both January’s reading and forecasts of 1.18.