Japan's jobless rate falls to 5.5% in August: govt

Japan's unemployment rate fell to 5.5 per cent in August, from a record 5.7 per cent in July, the first improvement in seven months, the government said today.

The latest rate was lower than the 5.8 per cent the market had expected.

The jobless rate for men fell to 5.8 per cent in August from 6.1 per cent in July with that for women edging down to 5.0 per cent from 5.1 per cent, the internal affairs ministry said.

But another survey released by the labour ministry today showed there were only 42 job offers for every 100 jobseekers in August, matching a record low set in July.

Many Japanese companies, particularly exporters, have moved swiftly to cut jobs and production in response to a slump in demand caused by the global economic downturn.

Japan's economy grew in April-June for the first time in five quarters but deflation is deepening amid weak domestic demand, while a strong yen is threatening exports.

The Bank of Japan's business confidence survey showed yesterday the nation's corporate gloom has eased but the outlook for profits and investment remains bleak, highlighting the rocky recovery path facing the world's number two economy.