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Japan Oct unemployment rate falls to 4.1 pct from 4.2 pct in Sept - UPDATE.
(From AFX Europe (Focus))
- (Adds details throughout)
TOKYO (XFN-ASIA) - The unemployment rate dropped to 4.1 pct in October from 4.2 pct in September, data from the Ministry of Internal Affairs and Communications showed, matching market expectations.
The latest figure was near the over eight-year low of 4.0 pct registered in May, a sign economists say that Japanese companies are willing to hire workers to meet rising production as the economy recovers.
The male jobless rate stood at 4.3 pct, unchanged from September, while the female unemployment rate fell to 3.8 pct from 4.1 pct, the ministry said.
The number of payrolls rose 280,000 from a year earlier to 64.37 mln in October, the 17th rise in the past 18 months, as services and manufacturing sector stepped up hiring.
As cost-cutting efforts at Japanese companies had been easing, the number of workers employed in the manufacturing sector rose a sharp 170,000 to 11.72 mln.
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