Japan's unemployment rate fell to 2.4% in Sept, contributing to calls for a 5% wage increase.

In September, Japan's unemployment rate fell to 2.4%, down from 2.5%, with a job-to-applicant ratio of 1.24. This indicates a tightening labor market, prompting calls for at least a 5% wage increase in upcoming negotiations. Despite this positive trend, the ruling party faced electoral losses, and the Bank of Japan is expected to maintain interest rates. The labor market's strength, especially among women, highlights ongoing workforce challenges amid economic pressures.

October 28, 2024
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