— Japan Dec SA Jobs +190,000 M/M, 1st Rise In 3 Mo; Nov -350,000
— Japan Dec SA Unemployed -130,000 M/M, 1st Drop In 3; Nov +20,000
— Japan Dec NSA Jobs +50,000 Y/Y Vs Nov -80,000
— Japan Y/Y Employment Posts 1st Y/Y Rise In 2 Months
— Japan Dec NSA Unemployed -190,000 Y/Y Vs Nov -130,000
— Japan Y/Y Unemployment Marks 7th Drop In Row
— Japan 2010 Average Jobless Rate 5.1%, Unchanged From 2009

TOKYO (MNI) – Japan’s unemployment rate fell to 4.9% in December
from 5.1% in November, marking the lowest rate in 10 months as job
creation increased from both the previous month and a year before, data
from the Ministry of Internal Affairs and Communications showed on
Friday.

The seasonally adjusted unemployment rate for December came in
lower than the median forecast for 5.1% in an MNI survey of economists.

The December jobless rate was the lowest since 4.9% seen in January
and February 2010. It was below the record high of 5.6% hit in July
2009, but still well above the 4.2% rate seen at the start of 2009.

In 2010, the average unemployment rate was 5.1%, unchanged from
2009.

In December, the number of payroll jobs rebounded by a seasonally
adjusted 190,000 month-on-month to 62.52 million, showing the first m/m
gain in three months, after having fallen 350,000 m/m in November and
180,000 in October and rising 410,000 in August.

On an unadjusted basis, the number of employed people rose by
50,000 to 62.28 million in December compared to a year earlier, marking
the first year-on-year rise in two months after falling 80,000 in
November and rising 150,000 in October and 140,000 in September.

In December, the number of unemployed fell by a seasonally adjusted
130,000 from the previous month, or 3.9%, to 3.23 million, posting the
first m/m drop in three months after rising 20,000 in November.

The unadjusted number of jobless workers was down by 190,000 in
December from a year earlier at 2.98 million, marking the seventh
consecutive year-on-year decline, after falling 130,000 in November and
100,000 in October.

Job losses remained largely in the manufacturing, construction and
information communication and service industries.

Meanwhile, job creation was led by health care and welfare as well
as wholesale and retail trade.

The Japanese economy has moved out of the sharp contraction seen in
early 2009, but the jobless rate is a lagging indicator that typically
follows economic movements after a delay of several months.

Other details of the report follow:

The number of workers who retired or whose contracts expired:
December unchanged y/y at 320,000 vs. November -20,000.

The number of those who lost their jobs and were looking for work:
December -230,000 y/y at 810,000 vs. November -250,000.

The number of people who quit their job voluntarily to look for
other openings: December +30,000 y/y at 1.0 million vs. November
+20,000.

Separately, the Ministry of Health, Labor and Welfare said that the
ratio of job offers to job seekers at government placement offices stood
at a seasonally adjusted 0.57 in December, unchanged from November.

That means there were only 57 job offers for every 100 people
looking for work.

The ratio for the 2010 average was 0.52, up from 0.47 in 2009.

tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4833 **

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