The ratio of open jobs to applicants in Japan hit a 43-year high in May, as labour shortages in the world’s third-largest economy become ever more extreme.
The closely watched indicator of Japan’s market rose 0.01 points to a reading of 1.49, the highest since February 1974, as companies struggle to fill positions from an ageing and shrinking workforce. The indicator covers all jobs, permanent and temporary.
A raft of new data suggest Japan’s economy is growing steadily and running at close to full capacity. But there is no sign of upward pressure on prices, meaning that the Bank of Japan will struggle to hit its 2 per cent inflation target.
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