Japan's unemployment rate rises for first time in three months
News On Japan via Bloomberg -- May 29
Japan's jobless rate rose for the first time in three months, exceeding analysts' estimates and underscoring concern that an economic recovery will lose momentum in the face of gains in the yen and Europe's crisis.
The rate increased to 4.6 percent in April from 4.5 percent the previous month, the statistics bureau said today in Tokyo. The median estimate of 26 economists surveyed by Bloomberg News was 4.5 percent.
Sony Corp. (6758) is among manufacturers to have announced job cuts that may weigh on an economy that relied on consumer spending for most of its growth in the first quarter. The expansion may slow as boosts from earthquake reconstruction and government incentives to spur spending fade and Europe's sovereign-debt crisis and austerity measures cap exports.
Source: Bloomberg
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