FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Japan’s unemployment rate remained flat in May as the job availability ratio jumped to historical high levels, indicating that the country’s labor market remains tight. The nation’s labor economy has shown signs of recovery as companies appear willing to hire more people, especially in nonmanufacturing sectors.
The job availability ratio improved to 1.36 in May, the highest level since October 1991, data released by the Labor Ministry showed Friday. This indicates that 136 positions were available for every 100 job-seekers. Further, unemployment in the region remained steady at 3.2 percent in May.
The health care and welfare sector added 290,000 jobs to 8.34 million y/y amid the graying of the country’s population, while the wholesale and retail sector saw a gain of 60,000 to 10.43 million. The manufacturing sector, however, cut 40,000 jobs to 10.39 million, weighed down by a strong yen and sluggish domestic consumption, analysts said.
"The employment situation remains on an improving trend," local sources from Japan reported, citing a government official during a press briefing.
Moreover, in the reporting month, the unemployment rate for men was unchanged at 3.4 percent, while that for women declined 0.1 point to 2.9 percent. The number of unemployed people increased a seasonally adjusted 0.5 percent to 2.12 million. The number of workers was up 20,000 to 64.09 million and the number of people leaving jobs voluntarily stood at a seasonally adjusted 880,000.
Meanwhile, comments from the Chief Economist at Norinchukin Research Institute showed the buoyant Japanese labor market is likely to witness some leveling, considering that the volatility that is throttling global markets, with Britain voting to leave the European Union in a referendum conducted last week.
