Japan unemployment rate falls to 2.7% hitting 24year low
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Tokyo, December 26: Japanese economy gets more strengthened as Japan's unemployment rate fell to a 24-year low in November. As per data, the rate has reached to 2.7% hitting a record low. This information has created a hope that Japan may come out of its two decades deflation.
The unemployment rate edged lower from 2.6% in October, its first fall in five months. Local media reports say, the actual unemployment rate is believed to be around 3%. A reading lower than 3% signifies that the Japanese economy is in full employment. The continued fall in unemployment signifies Japan’s economic expansion.
“The current economic recovery is characterized by its long duration,” said Haruhiko Kuroda, governor of the Bank of Japan, in a year-end speech. “The duration of the current recovery phase, which started in December 2012, likely reached 60 consecutive months in November 2017.”