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Japan: Employment up, spending down
Pacific Business Journals
June 27, 2003
Fresh economic reports from Japan gave some cause for hope without yet showing concrete evidence of economic improvement.
Japan industrial production for May ran 2.5 percent better than the previous month, and the trade ministry predicted a further expansion, although smaller, this month.
Also Friday, the government in Tokyo said Japan unemployment held steady at 5.4 percent in May. The total number of workers rose for the first time in 26 months. Most of the new jobs seem to be in health care fields.
But price deflation persisted in May, government officials said, and household spending ran 1.8 percent from year-before levels, a worse drop than had been recorded the month before.
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