Today, statistics on the labor market in the Land of the Rising Sun have been published. The figures surprise and delight: the unemployment rate has reached its lowest level in the last quarter of the century.
Experts note that such a low level of unemployment signals an improvement in the situation on the labor market. It is expected that wages in the country will increase steadily, causing a consumer boom and, as a result, an economic recovery.
Turning to official figures: the unemployment rate in January this year has amounted to 2.4%, which is 0.3% less than the same figure in December, 2017. It has also estimated that there are 144 open positions for a hundred job seekers. This is the first such occurrence for the last 44 years.
Haruhiko Kuroda, Governor of the Bank of Japan, said that such a positive situation on the labor market would necessarily lead to further costs and higher inflation. By the way, rising inflation is an excellent thing for the Japanese economy.
The site of financial information MarketWatch has published the forecast of experts regarding the further development of the labor market in Japan. So, analysts agreed that the unemployment rate could slightly increase, but it would be next to the minimum achieved and serious jumps should not be expected.
Investors should wait for a significant strengthening of the yen. In the future, a small correction may happen.
The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade