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The Economic and Labour Situation in Japan (August 2012)

Industrial Production
Industrial production in June 2012 decreased 0.1% from the previous month, registering a decrease for the third consecutive month and down 2.0% year-on-year. The index in June was 92.1 (seasonally adjusted).
Industries that mainly contributed to the decrease were as follows: (1) transport equipment, (2) electrical machinery, and (3) iron and steel, in that order.
Commodities that mainly contributed to the decrease were as follows: (1) large passenger cars, (2) semiconductor products machinery, and (3) chassis and body parts, in that order.
According to the Survey of Production Forecast in Manufacturing, production was expected to increase by 4.5% in July and to decrease by 0.6% in August. This survey is a useful economic indicator reflecting changing business conditions and providing clues as to where the economy might be heading in the near future.

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 for June 2012 was 269,810 yen, up 1.5% in nominal terms and up 1.6% in real terms year-on-year.
(2) Income and Expenditures for Workers' Households
The average monthly income per household stood at 712,592 yen, down 3.7% in nominal terms and down 3.8% in real terms year-on-year.
The average consumption expenditure was 292,937 yen, up 2.4% in nominal terms and up 2.5% in real terms year-on-year.

Labour Force Survey Monthly Results
(1) Employment
The number of employed persons in June 2012 was 63.04 million, a decrease of 60,000, or 0.1%, from the same month in the previous year.
(2) Unemployment
The number of unemployed persons in June 2012 was 2.88 million, a decrease of 260,000, or 8.3%, from the same month in the previous year.
The seasonally adjusted unemployment rate was 4.3%, down 0.1 point from the previous month.

(10,000 persons)
  June figures Change from previous year
Population aged 15 years or over 11,096 -19 -0.2
Labour force 6,591 -33 -0.5
Employed persons 6,304 -6 -0.1
Employees 5,528 4 0.1
Unemployed persons 288 -26 -8.3
Not in labour force 4,500 12 0.3
Labour force participation rate (%) 59.4 -0.1 -
Employment rate (%) 56.8 0.1 -
Unemployment rate, original series (%) 4.4 -0.3 -
  Current month Change from previous month
Unemployment rate, seasonally adjusted (%) 4.3 -0.1 -

Unemployment Rate by Age

According to a separate report released by the Ministry of Health, Labour and Welfare, job availability improved slightly in June, with the ratio of job offers to job seekers standing at 0.82, up 0.01 points over the previous month and registering an improvement for the thirteenth consecutive month. This figure means that there were 82 jobs available for every 100 job seekers.

Consumer Prices
The consumer price index for Japan in June 2012 was 99.6 (2010=100), down 0.5% from the previous month and down 0.2% over the same month in the previous year.

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