Unemployment Rate in Japan Declined in February

Japan’s Ministry of Internal Affairs and Communications announced today that the unemployment rate fell slightly to 2.7% in February from 2.8% in January.

The Ministry of Health, Labor and Welfare reported that the vacancy-to-applicant ratio rose to 1.21 in February, a slight increase from 1.20 in January and the second consecutive month of increases.

Although the unemployment rate has dropped, an official from Japan’s Ministry of Internal Affairs and Communications said the labor market as a whole continues to be affected by the epidemic and many people are still discouraged from working.

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