Japan’s March unemployment rate climbs to one-year high

Japan’s March unemployment rate climbed to its highest level in a year, while job availability dropped to a more than three-year low, Reuters reported citing the country’s official data.
The seasonally adjusted unemployment rate surged to 2.5 percent and the jobs-to-applications ratio tumbled to 1.39 in March, the data showed.
Although the unemployment rate may seem relatively low compared to how other economies are faring in the global economic crisis triggered by the coronavirus pandemic, it could put more pressure on Prime Minister Shinzo Abe to inject more stimulus into the Japanese economy, Reuters said.
Abe’s government has already approved a stimulus package worth 108 trillion yen ($990 billion), around 20 percent of Japan’s economic output.
To date, Japan has more than 13,400 coronavirus cases and a national emergency has been in place until May 6 for seven cities, including Tokyo and Osaka.