Japan's Jobless Rate Falls
Oct. 01, 1999
TOKYO (AP) _ Japan's jobless rate improved in August, falling to 4.7 percent from the previous month's record high 4.9 percent, the government announced Friday.
The rate fell largely on a shift of unemployed men into the jobholders' bracket, the Management and Coordination Agency said.
The jobless rate for men stood at 4.7 percent in August, down from July's record 5.1 percent. The rate for women was unchanged at 4.6 percent.
While the total number of jobholders fell by 350,000 to 65.11 million in August from the year-earlier month, that figure rose from July's 64.97 million.
The unemployment rate had worsened in recent months, increasing pessimism about the nation's economy, which is struggling to emerge from its worst downturn in 50 years.
Economists surveyed by Dow Jones Newswires in Tokyo had forecast the overall jobless rate would stay at 4.9 percent in August.