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Japan jobless rate falls to 5.5 pct in August

Published 10/01/2009, 07:35 PM
Updated 10/01/2009, 07:39 PM

TOKYO, Oct 2 (Reuters) - Japan's jobless rate pulled back from a record high in August but job availability remained at a record low, reinforcing views that it will take time for the job market to recover despite a pick-up in corporate activity.

The seasonally adjusted unemployment rate fell to 5.5 percent from 5.7 percent in July and was below the median market forecast of 5.8 percent.

The jobs-to-applicants ratio was 0.42 in August, meaning only about four jobs were available for every 10 applicants. That matched the median estimate and was unchanged from last month, which was the lowest reading since the data began in 1963.

The number of new job offers fell 24.2 percent in August from the same month last year and was down 1.1 percent from July. (Reporting by Stanley White; Editing by Chris Gallagher)

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