Dec 26, 2006

Japan reports a drop in unemployment.

Japan reported a drop in unemployment.The jobless rate fell to 4.0 percent in November from 4.1 percent in October, touching May's eight-year low of 4.0 percent, the Ministry of Internal Affairs and Communications said.

The total number of unemployed was down by 330,000 from a year earlier to 2.59 million, the 12th consecutive monthly fall, the ministry said.

The unemployment rate is watched closely for evidence of expanded hiring by Japanese companies and the positive knock-on effects on consumer spending.

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