Japanese jobless rate hit the lowest since 1994 in February

The Japanese Ministry of Internal Affairs and Communications released this Friday morning showed the unemployment rate dropped to 2.8% in February; the lowest level since 1994.

Meanwhile, the Ministry of Health, Labor and Welfare data showed the country's job availability stood at 1.43 in February; the best level since July 1991.

The core inflation rose to near tow-year high in February, data released today showed. However, that is hardly encouraging if we take into account the fact that employment levels are at the highest since 1994.