Japan unemployment rate marginally rises in November, jobs availability improves

The rate of unemployment in Japan marginally rose during the month of November, adding to already persisting worries over the ailing state of the economy. However, the availability of jobs improved during the period, which slightly offset the concern.

Japan’s jobless rate came in at a seasonally adjusted 3.1 percent in November, data released by the Ministry of Internal Affairs and Communications showed Tuesday. That was above forecasts for 3.0 percent, which would have been unchanged from the October reading.

The job-to-applicant ration climbed to 1.41, matching forecasts and up from 1.40 in the previous month. The participation rate was 60.0 percent, down from 60.4 percent a month earlier.

Meanwhile, the USD/JPY traded at 117.28, up 0.16 percent, while at 6:00GMT, the FxWirePro's Hourly Yen Strength Index remained highly bullish at 114.48 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex