Business circles forecast unemployment rate to rise to 6.4 percent in two years

Japanese employers forecast that the nation's unemployment rate will increase to 6.4 percent in two years.

This is from the 6th survey in January of board members of the Federation of Economic Organizations (Keidanren) concerning the economic circumstances and management.

They forecast the unemployment rate to rise in the next two years which the Koizumi government regards as a "period of adjustment to structural reform."

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The employment rate of high school students graduating in March is the lowest ever at 67.8 percent, revealed at the end of December 2001 based on employers' informal decisions.

This means that out of 253,000 new graduates who want jobs, 81,500 can not get jobs. Okinawa Prefecture is marked by the lowest percentage of employment of high school graduates. (end)