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The Economic and Labour Situation in Japan in July 2010

Industrial Production

Industrial production in July rose 0.3% over the previous month, registering an increase for the first time in two months. It was a year-on-year rise of 14.8%. The seasonally adjusted index in July was 95.3.

Industries that mainly contributed to the increase were general machinery, chemicals (excluding drugs), and pulp, paper, and paper products, in that order.

Commodities that mainly contributed to the increase were reaction vessels, flat-panel display productmachinery,and semiconductor product machinery, in that order.

According to the Survey of Production Forecast in Manufacturing, industrial production is expected to increase by 1.6% in August and 0.2% in September.

Family Income and Expenditure Survey

(1) Expenditure for two-or-more-person households
The average monthly consumption expenditure per two-or-more-person household for July was 285,274 yen, up 0.1% in nominal terms and up 1.1% in real terms over the previous year and showing the first increase in two months.

(2) Income and expenditure for workers' households
The average monthly income per household stood at 562,094 yen, down 1.0% in real terms from the previous year.

The average consumption expenditure was 316,659 yen, the same level in nominal terms but up 1.0% in real terms over the previous year

Labour Force Survey Monthly Results

The jobless rate fell for the first time in six months.

The number of people with jobs stood at 62.71 million in the reporting month, up 10,000 from a year earlier for the first increase in 30 months.

Calling for caution, an official of the Ministry of Health, Labour and Welfare said, "We need to keep a close watch on developments."

By sector, manufacturing and construction were sluggish. Manufacturing payrolls fell by 100,000, and the construction sector shed 170,000 jobs.

The number of unemployed persons in July was 3.31 million, a decrease of 280,000, or 7.8%, from the previous year. The seasonally adjusted unemployment rate was 5.2%.

According to a separate report released by the Ministry of Health, Labour and Welfare, job availability also improved in July, with the ratio of job offers to job seekers rising to 0.53 from 0.52 in the previous month. This figure means that 53 jobs were available for every 100 job seekers in July

Consumer Prices Continue to Slide

The consumer price index continued to slide, with a 1.1% drop in July as deflationary pressure persisted for the 17th month in a row, the government announced.

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