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27 Jan 2016
JPY: Unemployment rate for December to be 3.3% - Nomura
FXStreet (Delhi) – Kengo Tanahashi, Research Analyst at Nomura, expects Japanese unemployment rate for December to be 3.3% and the job openings-to-applicants ratio to be 1.26x.
Key Quotes
“Among leading indicators for unemployment, nonscheduled working hours in November were down 0.6% m-m and the job openings-to-applicants ratio for November was up 0.01 m-m. The former points to an increase in the unemployment rate, while the latter points to a decline. Given these mixed signals, we think the unemployment rate in December will be more or less unchanged from November.
Because the new job openings-to-applicants ratio, which tends to serve as a leading indicator for the job openings-to-applicants ratio, has been on an upward trend, we expect the job openings-to-applicants ratio in December to come in higher than the 1.25x recorded in November.
Consensus forecasts for both the unemployment rate and the job openings-to-applicants ratio are in line with our forecasts.”
Key Quotes
“Among leading indicators for unemployment, nonscheduled working hours in November were down 0.6% m-m and the job openings-to-applicants ratio for November was up 0.01 m-m. The former points to an increase in the unemployment rate, while the latter points to a decline. Given these mixed signals, we think the unemployment rate in December will be more or less unchanged from November.
Because the new job openings-to-applicants ratio, which tends to serve as a leading indicator for the job openings-to-applicants ratio, has been on an upward trend, we expect the job openings-to-applicants ratio in December to come in higher than the 1.25x recorded in November.
Consensus forecasts for both the unemployment rate and the job openings-to-applicants ratio are in line with our forecasts.”