Japan jobless at six-year high

Japan jobless at six-year high

english.aljazeera.net

Japan's unemployment rate has hit a six-year high as the world's second largest economy continues to battle with the fallout from the global economic crisis.

According to data released on Friday the jobless rate his 5.4 per cent in June, putting it on course to rise above its post-Second World War high of 5.5 per cent, last seen in April 2003.

Japanese companies are continuing to shed thousand of workers following a decline in demand for cars, electronics and other exports that has resulted in plunging profits.

Announcing the latest data, the government said the number of people out

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www.guardian.co.uk

I will try to find another source for this, but it seems pretty grim.

I haven't heard a lot about Japan's troubles, other than they were having some, like everyone else.

There have been a few threads here today talking about how everything is starting to look peachy, or at least, not as bad as it had been.

I'm having a hard time believing it. I guess maybe in way I don't want to. It seems that Japan started to tank a little before we did and that there decline was a little faster.

The analysts seem to have a little bit of confidence but are hinting that any recovery might only be short term.

How can unemployment be up everywhere and people still tell us that everything is getting better?









english.aljazeera.net
(visit the link for the full news article)

They will say it is getting better for the Stock Market to get better. The Stock Market, as you may already know, functions on assumptions that investments will make Brokers more money, which if they start buying, value will go up and the market will get better.

So if they keep saying this is as bad as it gets and it is getting better, then the market will jump back up again and people will go back to the way they were prior to the recession, throwing baseless currency at nothing without thinking of the repercussions.

Keep an eye out for this term NEET as people roll of their unemployment and become hopeless and give up the search for work were are going to mirror japan and the u.k. I expect this to start showing up in the U.S. media by the end of summer.

reply to post by KSPigpen


Japan is notorious for "tricky accounting" .. For instance, according to their numbers they have been stagnate or deflating for the past 15 years. All while raking in a massive disproportionate debt. But it all doesn't make sense to outsiders.. because it's the Japanese way of calculating their economy. 5.5% unemployment as an all time high? Unlikely. Just as America fudges their numbers, so does Japan.

reply to post by Rockpuck


So, Rockpuck....do you think they are making them sound a lot rosier than they are? That's what the US does right? We use the tricky accounting to make it seem like unemployment is low, but we just don't count half of them for one reason or another...is this what Japan is doing as well? Did they get their accounting from the US after the war?

reply to post by KSPigpen


This doesn't make sense. Here is a story saying that Japans Industry is surging forward.
Japan Factory Output Likely Rose Most in 50 Years Last Quarter

Production climbed 2.5 percent from May, according to the median forecast of economists surveyed before a Trade Ministry report tomorrow. That would be an 8.3 percent quarterly gain, the biggest increase since the end of the Korean War in 1953.

[edit on 31-7-2009 by SLAYER69]

reply to post by KSPigpen


I don't think anyone took their accounting skills from anyone else. It's a natural habit of Governments to lie. Been that way since time began.

As Slayer points out.. the numbers from Japan almost never make sense, let alone now.. One thing I would like to know, is if US Imports declined and Durable Goods fell .. yet Japan's factory output is "surging" .. Who are they shipping their goods to?

reply to post by Rockpuck


It's just a quarterly surge, not YOY. Most likely it's still down from last year.