Japan’s jobless rate rises to 4.4% in February
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Japan’s jobless rate rises to 4.4% in FebruaryFITITOL–>FXstreet.com (Barcelona) – Japan’s jobless rate rises by 0.3 percentage points to 4.4% in February. Hiroshi Watanabe, senior economist at Daiwa Institute of Research said: “A big rise, about 100,000 people lost their jobs because firms asked them to quit, the data show, which is a typical pattern seen during the time of recession.”
Expects jobless rate to continue to rise, with its peak “probably around July or August”. Household spending also falls; notes “consumer spending is also expected to worsen because firms that faced severe drop in profits in the first quarter will need to cut wages and jobs ahead.”