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Japan's unemployment rate rose to 2.6% in August, the highest in 13 months, due to declining jobs and rising quits.
Japan’s unemployment rate rose to 2.6% in August, the highest in 13 months, up from 2.3% in July, surpassing the forecast of 2.4%, according to official data.
The number of unemployed reached 1.79 million, a 13-month high, while employment declined by 210,000 to 68.1 million.
The job-to-applicant ratio fell to 1.20, the lowest since January 2022, reflecting weaker hiring.
Companies cited budget constraints, rising costs, and a new record minimum wage of 1,121 yen as factors limiting job creation.
Voluntary job quits rose sharply, and job offers dropped across major sectors, signaling a cooling labor market despite historically low unemployment.
La tasa de desempleo de Japón subió al 2,6% en agosto, la más alta en 13 meses, debido a la disminución de empleos y al aumento de las renuncias.