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No.192(2015/8/21)
Economic and Labour Situation in Japan (August 2015)

Industrial Production
Industrial production is fluctuating indecisively. In June industrial production rose by 0.8% over the previous month, registering an increase for the first time in two months and up 2.0% year-on-year. The index in June was 98.0 (seasonally adjusted).
Industries that mainly contributed to the increase were as follows: (1) transport equipment, (2) chemicals (excluding drugs), and (3) plastic products, in that order.
According to the Survey of Production Forecast in Manufacturing, production was expected to increase by 0.5% in July and by 2.7% in August.

Family Income and Expenditure Survey in June
(1) Expenditure for Two-or-More-Person Households
The average monthly consumption expenditure per two-or-more-person household in June was 268,652 yen, down 1.5% in nominal terms and down 2.0% in real terms year-on-year.

(2) Income and Expenditure for Workers' Households
The average monthly income per household stood at 733,589 yen, up 3.3% in nominal terms for the third straight month and up 2.8% in real terms year-on-year.
The average consumption expenditure was 293,042 yen, down 0.9% in nominal terms and down 1.4% in real terms year-on-year.

Labour Force Survey Monthly Results
(1) Employment
The number of employed persons in June was 64.25 million, an increase of 360,000, or 0.6%, over the previous year.

(2) Unemployment
The number of unemployed persons in June was 2.24 million, a decrease of 210,000, or 8.6%, from the same month in the previous year.
The seasonally adjusted unemployment rate in June was 3.4%, up 0.1 point over the previous month.

(10,000 persons)
  June figures Change from previous year
      (%)
Population aged 15 years or over 11,081 0 0.0
Labour force 6,648 14 0.2
Employed persons 6,425 36 0.6
Employees 5,665 48 0.9
Unemployed persons 224 -21 -8.6
Not in labour force 4,426 -15 -0.3
Labour force participation rate (%) 60.0 0.1
Employment rate (%) 58.0 0.3
Unemployment rate, original series (%) 3.4 -0.3
  Current month Change from previous month
Unemployment rate, seasonally adjusted (%) 3.4 0.1

Japan's job availability in June was the same as the previous month and the best level in over 23 years, with the ratio of job offers to jobseekers standing at 1.19. This figure means that there were 119 jobs available for every 100 jobseekers.

Consumer Prices
The consumer price index in June was 103.8 (2010 = 100), down 0.2 points from the previous month and up 0.4 points over the same month of the previous year.

June 2015
Index Monthly change (%) Annual change (%)
All items 103.8 -0.2 0.4
All items, less fresh food 103.4 0.0 0.1
All items, less food (less alcoholic beverages) and energy 101.1 0.0 0.6
All items, less imputed rent
The core consumer price index, which excludes volatile fresh food prices, stood at 103.4 (2010 = 100), up 0.1 point over the same month of the previous year and registering the 25th consecutive monthly increase. The rise followed a 0.1 point increase in May, which is far below the Bank of Japan's inflation target of 2%.
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