Japan's unemployment rate rose in August to its highest in over three years and job availability fell to a more than six-year low, government data showed on Friday, indicating damage caused by the COVID-19 pandemic persisted through the month.
"The government's special employment subsidy to support firms hit by the coronavirus has helped to rein in the jobless rate, which could have risen much higher," said Atsushi Takeda, chief economist at Itochu Research Institute. The data showed about 2.06 million people lost their jobs in August, 490,000 more than in the same month a year earlier, and marking the seventh consecutive month of increase.
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