Japan’s unemployment rate has hit a 5-year high, as the recession continues to pressure the economy, with a 5 per cent unemployment rate in April.

Japan’s statistics bureau announced Friday, the jobless rate rose to 5 pert cent from 4.8 per cent in March. The ratio of available jobs to applicants dropped to 0.46 from a previous 0.52, the lowest ratio in ten year, according to the Labor Ministry.

Over 700,000 people have lost their job over the previous 12 months, a 25.8 per cent increase pushing the number of people out of a job to 3.46 million. Several economists predict a worsening development of Japan’s unemployment rate, possibly even surpassing the post-World War II high of 5.5 per cent towards the end of 2009.

Related news articles:

1. US unemployment rate hits 7.6 per cent in January
2. U.S. unemployment rate hits 26-year high
3. 20 million unemployed in EU: 8.9% unemployment rate
4. EU unemployment hits 21 million in April: Eurostat
5. US Unemployment Rate Hits 25-Year High