Japan's unemployment up, household spending down

07/29/2008 | Bloomberg

There are new signs that Japan's longest postwar expansion may be ending. The unemployment rate rose to 4.1% in June, and household spending fell 1.8% from last year, the country's statistics bureau said. The rising jobless rate has "gotten past the point where policymakers can merely say the economy is stagnating," said economist Hiroaki Muto of Sumitomo Mitsui Asset Management.

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