Posted 12/26/2023, 12:41:00 AM
Japan's Tight Labor Market Persists With Job Openings Still Outnumbering Applicants
- Japan's job-to-applicant ratio eased to 1.28 in November, indicating the labor market remains tight
- Unemployment rate held steady at 2.5% in November
- Number of workers rose by 560,000 from a year earlier, marking the 16th consecutive increase
- Bank of Japan Governor noted labor conditions have tightened, helping support wage growth
- Tightness in the labor market increases likelihood companies will boost wages in upcoming negotiations