Advertisement
UK markets close in 3 hours 44 minutes
  • FTSE 100

    8,086.65
    +41.84 (+0.52%)
     
  • FTSE 250

    19,802.72
    +3.00 (+0.02%)
     
  • AIM

    754.69
    -0.18 (-0.02%)
     
  • GBP/EUR

    1.1637
    +0.0009 (+0.08%)
     
  • GBP/USD

    1.2438
    -0.0014 (-0.12%)
     
  • Bitcoin GBP

    53,531.55
    +514.34 (+0.97%)
     
  • CMC Crypto 200

    1,438.41
    +14.31 (+1.01%)
     
  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     
  • DOW

    38,503.69
    +263.71 (+0.69%)
     
  • CRUDE OIL

    82.86
    -0.50 (-0.60%)
     
  • GOLD FUTURES

    2,328.40
    -13.70 (-0.58%)
     
  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     
  • HANG SENG

    17,201.27
    +372.34 (+2.21%)
     
  • DAX

    18,190.17
    +52.52 (+0.29%)
     
  • CAC 40

    8,137.45
    +31.67 (+0.39%)
     

Japan's jobless rate seen up in January due to COVID-19 emergency measures - Reuters poll

People cross an illuminated floor at a banking district in central Tokyo

TOKYO (Reuters) - Japan's jobless rate is expected to have edged up in January as service industry businesses suffered renewed restrictions on movement to fight spread of the coronavirus in some areas, including Tokyo, a Reuters poll of economists showed on Friday.

While industrial production activity picked up in Japan, emergency curbs rolled out last month such as asking restaurants to close early and suspending the national travel campaign hurt the jobs market, analysts said.

The nation's unemployment rate likely rose 3.0% in January, up from 2.9% in December, the poll of 15 economists found.

The jobs-to-applicants ratio, a gauge of the availability of jobs, was seen at 1.06 in January, unchanged from December, but stayed near September's seven-year low of 1.03, the poll showed.

ADVERTISEMENT

"As the impact from the coronavirus pandemic prolongs, it is hard for firms, especially the service sector, to expect their business profits to improve," said Yusuke Shimoda, senior economist at Japan Research Institute.

"So, their willingness to hire employees appear to be subdued and it is difficult to see the jobs market recovering soon."

Some analysts also said the government's steps to support employment and existing labour shortages will likely prevent the jobless rate from worsening sharply.

The government will announce the labour market data at 8:30 a.m. Japan time on Tuesday (2330 GMT Monday).

Analysts expect the economy to contract in the current quarter due to the emergency measures to counter the spread of the disease.

(Reporting by Kaori Kaneko; Editing by Simon Cameron-Moore)