28 March 2001, 10:24  Japan Feb. Jobless Rate Seen Steady at Record 4.9%: BN Survey

Tokyo, March 28 (Bloomberg) -- Japan's jobless rate probably held at a record high inFebruary and the number of jobs available at state-run work centers was unchanged,economists said. The jobless rate held at 4.9 percent last month, according to the median of 26 forecastsin a Bloomberg News survey. There were 65 jobs for every 100 applicants at government-run work centers last month, according to the survey. Companies have less demand for workers as they slow production and curtail expansionplans to offset a drop in sales at home and overseas. That suggests jobless queues willlengthen as Aiwa Co. and Sanyo Electric Co. eliminate jobs. ``The jobless rate is seen deteriorating and slower production will push down the numberof jobs on offer,'' said Susumu Okano, chief economist at Daiwa Institute of ResearchLtd. The government's statistics bureau will release the February job figures at 8 a.m., Japantime, Friday. Aiwa this week said it will cut 30 percent of 2,300 jobs by the end of March 2002. Sanyotoday said it plans to eliminate an extra 6,000 workers in the next three years, on top ofa plan to trim its workforce to 49,000 by March next year.

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