24 October 2003, 09:48  Japan Sept jobless rate seen at 5.1%

TOKYO, Oct 24 - Japan's unemployment rate was likely unchanged in September from August's 5.1 percent figure, according to the majority of economists polled by , an improvement from a record high 5.5 percent earlier this year but far from a full recovery. Of the 27 economists polled, 16 saw the jobless rate at 5.1 percent while 10 forecast a rise to 5.2 percent and one saw a rise to 5.3 percent. Economists said company profits are improving, but this is largely a result of restructuring and means many are not ready to increase staff just yet. "With a recovery in corporate profits there are signs of brightness in the employment situation," said Junji Ohta, an economist at Okasan Research Institute. Ohta, who sees the jobless rate at 5.1 percent, said the effect of the recent rise of the yen on exporters' profits is a concern, and may constrain any improvement in the employment situation. "While it is not at a level to do great damage, it could adversely affect sentiment," he said.///

© 1999-2024 Forex EuroClub
All rights reserved