Japan's jobless rate worsens in May

TOKYO, June 30 (UPI) -- Japan's May jobless rate jumped to 5.2 percent from April's 5 percent and the job availability index fell to a record low, the government said Tuesday.

The May jobless rate was the highest since September 2003 and economists told the Kyodo news agency it may not be long before the rate hits the post-World War II high of 5.5 percent.

Despite some positive signs of corporate activity, Kyodo reported another 770,000 people were added to the jobless rolls in May for a total of 3.47 million. It was the seventh straight month of increase in the jobless rate.

The government data also showed the ratio of job offers to job seekers in May hit a record low of 0.44, down from 0.46 in April. The ratio means there were only 44 jobs available for every 100 job seekers in May.

"It is becoming less possible to reenter the labor market as there are few positions available,'' Health, Labor and Welfare Minister Yoichi Masuzoe said. ''We will do our best to improve the severe employment situation.''

There were 63.42 million people holding jobs at the end of May, down 1.36 million from the same month of last year.