Human Resources

March 2003

Japan's unemployment rate declined to 5.2% in February. However, the government warned against optimism. The data disclosed by the Labor Force Statistic Office are not a sign that labor conditions are clearly improving. The world's second largest economy has been in a slow-down for years and in January the unemployment rate matched a record high 5.5%. The number of people without jobs dipped a seasonally adjusted 190,000 from January to 3.49 million. Jobs were added in the medical and social-welfare sector as well as retail, although they dropped slightly in other service businesses. The manufacturing and construction sectors also added jobs. The jobless rate first hit 5.5% last August, which was the highest on the record. It improved to 5.4% in September but again hit 5.5% in October. After easing to 5.3% in November and December, it climbed backup to 5.5% in January. The data for February show that part-time jobs, which fluctuate more than full-time jobs, were up. The unemployment for women dropped to 4.9% from 5.5%, while the rate for men edged down to 5.5% from 5.6%. According to Minister Takenaka of Economic and Fiscal Policy, the nation's employment situation remains severe, regardless of rises or falls in the figures. It is important to create job opportunities to stimulating the economy. (March 29, the Japan Times, the Nihon Keizai Shimbun)