CHART: Japanese unemployment tumbles to the lowest level since 1994

You’d be pretty chuffed if you were looking for a job in Japan right now.

As seen in the chart below, the nation’s unemployment rate tumbled to just 2.8% in seasonally adjusted terms in February, the lowest level since June 1994.

The Japanese government said that the nation’s jobs-to-applicants ratio — simply the number of jobs available to the number seeking work — held steady at 1.43, remaining at highs not seen since 1991.

Aging demographics, rather than strong economic conditions, largely explain the multi-decade levels for both the unemployment rate and jobs-to-applicants ratio.

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