AI Data Insight
Japan's latest unemployment rate has dropped to 2.4%, showing a significant improvement from the previous 2.6% and beating the market consensus of 2.5%. Supported by semiconductor demand and employment growth, the active jobs-to-applicants ratio also climbed simultaneously. Driven by a virtuous cycle of labor shortages and wage growth, market expectations for subsequent rate hikes by the Bank of Japan (BOJ) continue to heat up.