Japanese Economy Minister Yasutoshi Nishimura has stated that job offers are plunging with the job and household income conditions souring rapidly due to the COVID-19 impact. The job market had been a rare bright spot in a weakening economy, but the Economy Minister said it was taking a hit from the rapidly spreading coronavirus pandemic.
"Job offers are plunging recently. Job and household income conditions, which had been very good up until now, are also souring sharply," Nishimura told parliament.
On the heels of the Tokyo summer Olympics being pushed back to 2021, Japan’s capital on Thursday reported an unprecedented number of new coronavirus cases with
47 cases of the infection which was the biggest number in a single day. This follows 41 cases yesterday, triggering concern that the virus is rampant in the country. This complicates the risk-on sentiment in markets, although for now, traders are cheering the stimulus packages and cheap money supply in the system.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.