26.12.202304:49:00UTC+00Japan Unemployment Rate Remains Stable In November

Japan's unemployment rate remained unchanged in November, data from the Ministry of Internal Affairs and Communications showed Tuesday.

The jobless rate came in at 2.5 percent in November, the same as in October. The rate also matched economists' expectations.

The jobs-to-applications ratio fell to 1.28 percent in November.

The number of unemployed increased 40,000 from the same period last year to 1.69 million.

Capital Economics' economist Gabriel Ng said the labor market should tread water over the coming year, as GDP growth slows to a crawl in 2024.

Another data from the Bank of Japan showed that services producer price inflation held steady at 2.3 percent in November. Month-on-month, the services PPI gained 0.2 percent after a 0.5 percent rise.

In a separate report, the central bank said core inflation eased to 2.7 percent in November from 3.0 percent in October. A similar lower rate was last reported in February.