TOKYO (Reuters) – The availability of jobs in Japan rose to the highest in 22 years, in an encouraging sign that a tighter labour market will boost wages and support consumer spending.
The jobs-to-applicants ratio rose to 1.10 in June from 1.09 in the previous month, data from the labour ministry showed on Tuesday. That matched a high last seen in June 1992.
The median estimate from economists was that the ratio measuring labour demand would remain unchanged at 1.09.
The number of new job offers rose 1.0 percent in June from the previous month and increased 8.1 percent from a year ago.
However, the seasonally adjusted unemployment rate, released by the Ministry of Internal Affairs and Communications, rose to 3.7 percent from 3.5 percent in the previous month. That was more than the median estimate of 3.5 percent.
(Reporting by Stanley White; Editing by Chris Gallagher)
Japan June labour demand hits 22-year high; jobless rate rises
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