The unemployment rate in Japan climbs to 2.9% in May 2020, suggesting the country's first recession since 2015 is beginning to have an impact on the labor market.
JAPANESE ECONOMY. People walk across Shibuya crossing in Tokyo on June 8, 2020. Photo by Charly Triballeau/AFP
Set against the millions of newly unemployed seen in major economies like the United States, Japan appears to have weathered the economic chaos of the pandemic. Analysts also point out that the low rate may not account for millions of people who have simply left the labor market after giving up their search for a job.
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