Japan’s Job Availability Ratio Slides to 1.18 in Oct.

Tokyo, Nov. 28 (Jiji Press)–Japan’s seasonally adjusted job availability ratio fell 0.02 point to 1.18 in October from the previous month as companies curbed new hires ahead of rises in minimum wages, the labor ministry said Friday. The number of effective job seekers was nearly flat, but that of effective job offers declined 1.8 pct. The job availability ratio shows how many openings are available per job seeker registered at Hello Work, public job placement centers across the country. Wholesalers and hotels saw notable drops in new hires. Firms are reviewing hiring plans because of progress in labor-saving efforts, concerns about the impact of rising prices and higher minimum wages. A separate survey from the internal affairs ministry showed the seasonally adjusted unemployment rate was at 2.6 pct in October, unchanged from the previous month. The number of employed and unemployed both increased. The number of employed women rose by 500,000 from a year earlier to 31.59 million before seasonal adjustment, hitting a record high for the second straight month. END [Copyright The Jiji Press, Ltd.]