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The Economic and Labour Situation in Japan (November 2012)

Industrial Production
Industrial production is on a downward trend. In September 2012 it decreased 4.1% from the previous month, registering a decrease for the third consecutive month and down 8.1% year-on-year. The index in September was 86.5 (seasonally adjusted).
Industries that mainly contributed to the decrease were as follows: (1) transport equipment, (2) general machinery, and (3) iron and steel, in that order.
Commodities that mainly contributed to the decrease were as follows: (1) large passenger cars, (2) small passenger cars, and (3) drive, transmission, and control parts, in that order.
According to the Survey of Production Forecast in Manufacturing, production was expected to decrease by 1.5% in October and to increase by 1.6% in November. 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 September
(1) Expenditure for Two-or-More-Person Households
The average monthly consumption expenditure per two-or-more-person household for September 2012 was 266,705 yen, down 1.2% in nominal terms and down 0.9% in real terms year-on-year.
(2) Income and Expenditures for Workers' Households
The average monthly income per household stood at 422,046 yen, down 0.2% in nominal terms but up 0.1% in real terms year-on-year.
The average consumption expenditure was 299,821 yen, up 0.3% in nominal terms and up 0.6% in real terms year-on-year.

Labour Force Survey Monthly Results
(1) Employment
The number of employed persons in September 2012 was 63.08 million, a decrease of 130,000, or 0.2%, from the same month in the previous year.
(2) Unemployment
The number of unemployed persons in September 2012 was 2.75 million, a decrease of 200,000, or 0.7%, from the same month in the previous year.
The seasonally adjusted unemployment rate was 4.2%, the same level as in the previous month.

(10,000 persons)
  September figures Change from previous year
Population aged 15 years or over 11,097 -6 -0.1
Labour force 6,583 -15 -0.2
Employed persons 6,308 -13 -0.2
Employees 5,522 3 0.1
Unemployed persons 275 -2 -0.7
Not in labour force 4,512 10 0.2
Labour force participation rate (%) 59.3 -0.1 -
Employment rate (%) 56.8 -0.1 -
Unemployment rate, original series (%) 4.2 0.0 -
  Current month Change from previous month
Unemployment rate, seasonally adjusted (%) 4.2 -0.0 -

According to a separate report released by the Ministry of Health, Labour and Welfare, job availability disimproved slightly in September, with the ratio of job offers to job seekers standing at 0.81, down 0.02 points from the previous month. This figure means that there were 81 jobs available for every 100 job seekers.

Consumer Prices
The consumer price index for Japan in September 2012 was 99.6 (2010=100), up 0.1 percentage point over the previous month and down 0.3 up 0.1% over the previous month and down 0.3 % from the same month in the previous year.

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