Japan Job Availability Ratio Slides to 1.28 in Nov.

Yomiuri Shimbun file photo
The cityscape of Tokyo

TOKYO, Dec. 26 (Jiji Press) — Japan’s seasonally adjusted ratio of effective job openings to seekers in November fell 0.02 point from the previous month to 1.28, down for the first time in four months, the labor ministry said Tuesday.

Companies whose earnings deteriorated amid soaring prices refrained from seeking new employees, leading to the drop in the ratio.

The ratio represents the number of jobs available to each job seeker registered with Hello Work public job placement centers across the country.

The number of effective job openings fell 1.5 %. Some manufacturers and construction companies hit by surging material and energy prices suspended job offers.

Effective job seekers increased 0.2 % as some workers considered changing jobs after facing increased burdens at their workplaces because of labor shortages.

The internal affairs ministry separately said that the country’s seasonally adjusted jobless rate in November leveled off from the previous month at 2.5 %.