Japan Jobless Rate Jumps to Highest in Six Years
Japan's Jobless Rate jumped to the highest level in nearly six years as the economy continues to dwindle into recession. The 5.2% jobless rate in May rose 0.2 percentage points from that of the month prior, but managed to stay within the expected value. Rising unemployment was joined by a decline in the jobs-to-applications rate. There were only 0.44 jobs available for each applicant, the lowest level since record keeping began in 1963. Continued deterioration in the country's labor market comes as investment spending continued to decline. April alone saw Machine Orders decline 5.4% with economists expecting it to only decline by 0.6%.
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