(Bloomberg) -- Japan’s unemployment rate rose for the first time in four months in July, while a gauge of labor demand weakened a tad, in a pair of worrisome signals for both the Bank of Japan and the government.Most Read from BloombergChina’s Worsening Economic Slowdown Is Rippling Across the Globe3M Agrees to Pay More Than $5.5 Billion Over Combat EarplugsAuto Union Boss Wants 46% Raise, 32-Hour Work Week in ‘War’ Against Detroit CarmakersGoldman Is Selling a Wealth-Advisory Unit to $240 Billi
The jobless rate increased to 2.7% from June, the ministry of internal affairs said Tuesday. Economists had expected the reading to hold at 2.5%. The number of workers fell by 100,000 from the previous month, while those without jobs rose by 110,000. The jobless rate for women increased in all age groups, while it fell for men between the ages of 45 and 54 and between 15 and 24.
Job offers in the manufacturing sector dropped by 11.4%. Osaka was among locales with the lowest ratio, at 1.10, while the ratio for Tokyo stood at 1.79.“Looser labor markets risk triggering a negative spiral that feeds back into softer wage growth — a frustration for the BOJ, which wants demand to fuel inflation instead of higher costs.
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