Unemployment Rate Hit Record 5.7% in July

Japan's seasonal adjusted unemployment rate rose 0.3% month to month to 5.7% in July, surpassing the previous record high of 5.5% in April 2003, according to the Ministry of Internal Affairs. Economists predicted 5.5%. Japan's average monthly income per household fell 2.4% in nominal terms and was up 0.2% in inflation-adjusted terms in July, while consumption expenditures fell 4.5% nominally and was down 2.0% in inflation-adjusted terms. It signals that households are unlikely to help sustain a recovery.