Japan’s unemployment rate ticked up to a three-year high in August as more people started to re-enter the labor market in search of work amid increasing economic activity.
The jobless rate rose to 3% from 2.9% in July, the internal affairs ministry reported Friday, the highest since May 2017. The overall result matched the median forecast from analysts. Despite a second monthly uptick in the unemployment rate, Japan has suffered far fewer job losses than other major economies during the crisis.
Still, with the mood very downbeat at the small businesses that employ most of Japan’s workers, a solid recovery in hiring could be a long way off. The jobless data showed that more than half a million positions have been lost in the manufacturing sector since the previous year and more than a quarter of a million at hotels and restaurants.
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