Japan jobless rate lowest since 1993

Japan’s jobless rate in November has fallen to its lowest level since November 1993, giving another indication that the country’s economy is recovering slowly ahead of 2020 Olympic Games when it is expected to take a big leap. Unemployment rate stood at 2.7% last month while the jobs-to-applicants ratio was up 0.01% from the previous month to 1.56 in November — the highest level in over four decades. Japan’s economy has seen rise in seven straight quarters. Confidence among Japan’s biggest manufacturers is also at an 11-year high, a recent central bank survey showed. Consumer prices rose for the 11th straight month but deflation remains unbowed. Bank of Japan has fixed a 2% inflation target to revive the economy.