Tuesday, 30th August 2011
In General Japan News,
Unemployment takes another hike
The number of people unemployed across Japan has increased for the second consecutive month in July.
That is according to Japan Today, which reported that unemployment rose to 4.7 per cent last month, up from 4.6 per cent in June.
Furthermore, the Yen hit a post-World War Two high against the dollar, resulting in a number of companies shifting production out of the country.
Newly appointed prime minister, Yoshihiko Noda, said the state of Japanese industry is one of his largest concerns for the economy.
Households are also trying to cut costs by spending less on transport, communication, fuel and clothing, which is bound to further impact the country's struggling economy.
According to the news provider, the Ministry of Internal Affairs and Communications said the average household spending dropped 2.1 per cent in July.
However, there is good news for the country as the IAAF donated $250,000 (£153,384) to the Japanese relief efforts, following the twin disasters which occurred in March, earlier this year.
Posted by Susan Ballion