Recent Statistical Survey Reports, March 2023

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Statistical Survey Reports

Monthly Labour Survey (Provisional Report in January)

March 7, released by the Ministry of Health, Labour and Welfare

Total amount of cash earnings increased by 0.8% and contractual cash earnings increased by 0.8% (full-time employees 1.3%, part-time employees 1.2%) from a year earlier.

Special cash earnings decreased by 1.7% from a year earlier. Scheduled cash earnings increased by 0.8% and non-scheduled cash earnings increased by 1.1% from a year earlier. Real wage (total cash earnings) decreased by 4.1% from a year earlier and real wage (contractual cash earnings) decreased by 4.1% from a year earlier.

Total hours decreased by 1.4%, scheduled hours worked decreased by 1.6% and non-scheduled hours worked increased by 1.1% from a year earlier.

Non-scheduled hours worked by manufacturing industry workers decreased by3.3% from the previous month (seasonally adjusted).

Indexes of Business Conditions January 2023(Preliminary Release)

March 8, released by the Cabinet Office

The Coincident Index of Composite Index (CI, revised figures, 2015=100) in January was 96.1, a decrease of 0.3 point. And 3 months backward moving average decreased by 1.03 point, and 7 months backward moving average decreased by 0.39 point. So the Assessment of Coincident Index was "Weakening" (The same as previous month)

The Leading Index was 96.5, a decrease of 0.4 point, and the Lagging Index was 99.5, a decrease of 0.1 point.

March 27 Indexes of Business Conditions January 2023 (Revision of the Preliminary Release)

National Accounts (The 2nd Preliminary Estimates Oct.-Dec.2022)

March 9, released by the Cabinet Office

Real GDP (Gross Domestic Product) growth rate (Seasonally Adjusted) at Oct.-Dec.2022 was 0.0% (0.1% on annual basis). Of real GDP growth rate, -0.3% was contributed by domestic demand and 0.4% by external demand.

Compensation of Employees (real) was -0.3% and compensation of Employees (nominal) was 0.7% (changes from the previous quarter (seasonally adjusted)).

Quartely Estimates of GDP: Oct. ~Dec. 2022 (The 2nd Preliminary Estimates) Growth rate of GDP from the previous Quarters(seasonally adjusted)Contributions of Domestic Demand and External Demand to Changes in GDP

Family Income and Expenditure Survey (January)

March 10, released by the Ministry of Internal Affairs and Communications

The average monthly income for a worker’s households with 2 or more family members was down 1.7% in real terms from the previous year. The change over the year of wages & salaries was down 0.1% in real terms from the previous year (household heads: -2.8% in real terms, spouse of household: 8.9% in real terms).

Indices of Industrial Production (Revised Report for January 2023)

March 16, released by the Ministry of Economy, Trade and Industry

The index of industrial production (seasonally adjusted, 2015=100) was 90.7, decreased by 5.3% from the previous month.

Basic Survey on Wage Structure (2022)

March 17, released by the Ministry of Health, Labour and Welfare

The average scheduled cash earning for general employees was 311,800yen (an increase of 1.4% from the previous year), that for men was 342,000yen (an increase of 1.4% from the previous year) and that for women was 258,900yen (an increase of 2.1% from the previous year).

Hourly wages of part-time employees was 1,367yen (a decrease of 1.2% from the previous year), that for men was 1,624yen (a decrease of 0.4% from the previous year), that for women was 1,270yen (a decrease of 1.6% from the previous year).

Survey on Situation of Preliminary Job Offers for New Graduate in Mar.2023 (University, etc.) (February 1, 2023)

March 17, released by the Ministry of Health, Labour and Welfare and the Ministry of Education, Culture, Sports, Science and Technology

The ratio of final-year university students who got an official job offer to applicants was 90.9%, increased by 1.2 point from the same period a year earlier.

Trend in the percentage of final-year university students with official job offer

Consumer Price Index Japan (February)

March 24, released by the Ministry of Internal Affairs and Communications

The consumer price index for Japan in February 2023 was 104.0(2020=100), up 3.3% over the year. All items, less fresh food, the comprehensive index was 103.6, up 3.1% from the previous year. All items, less fresh food and energy, the comprehensive index was 102.6, up 3.5% from the previous year.

Survey on Labor Economic Trend (February 2023)

March 24, released by the Ministry of Health, Labour and Welfare

By the judgment of employment surplus or shortage DI as of February 1, 2023, regarding the trend of the sense of employment surplus or shortage, in the total of industries surveyed, regular staff, etc. accounted for 46 and the DI shows shortage for 47 consecutive terms. And, that of part-time workers accounted for 31 and the DI shows shortage for 54 consecutive terms.

Survey on Supply and Demand of Construction Labor

March 27, released by the Ministry of Land, Infrastructure, Transport and Tourism

Indexes of Business Conditions January 2023(Revision of the Preliminary Release)

March 27, released by the Cabinet Office

The Coincident Index of Composite Index (CI, revised figures, 2015=100) in January was 96.4, a decrease of 3.0 point. And 3 months backward moving average decreased by 1.03 point, and 7 months backward moving average decreased by 0.37 point. So the Assessment of Coincident Index was "Weakening" (The same as the Preliminary Release)

The Leading Index was 96.6, a decrease of 0.6 point, and the Lagging Index was 100.6, an increase of 0.6 point.

Consumer Price Index Ku-area of Tokyo (March) (preliminary)

March 31, released by the Ministry of Internal Affairs and Communications

The consumer price index for Ku-area of Tokyo in March 2023 (preliminary) was 104.4(2020=100), up 3.3% from the previous year. All items, less fresh food, the comprehensive index was 104.0, up 3.2% from the previous year. All items, less fresh food and energy, the comprehensive index was 103.2, up 3.4% from the previous year.

Labour Force Survey (February)

March 31, released by the Ministry of Internal Affairs and Communications

The unemployment rate (seasonally adjusted) was 2.6%, increased by 0.2 point from the previous month. That for men was 2.9%, increased by 0.3 point from the previous month and that for women was 2.3%, increased by 0.1 point from the previous month.

The number of unemployed persons (seasonally adjusted) was 1.80 million, increased by 130 thousand from the previous month.
The number of employees was 60.12 million, increased by 70 thousand from the previous year.

Among them, the number of regular employee was 35.68 million, decreased by 90 thousand from the previous year and the number of non-regular employee was 21.02 million, increased by 290 thousand from the previous year.

Employment Referrals for General Workers (February)

March 31, released by the Ministry of Health, Labour and Welfare

Active job openings-to-applicants ratio (seasonally adjusted) was 1.34, decreased by 0.01 point from the previous month.

The number of monthly active job openings (person(s)) (seasonally adjusted) was increased by 0.8% from the previous month and the number of monthly active applications (person(s)) (seasonally adjusted) was increased by 1.6% from the previous month.

New job openings-to-applicants ratio (seasonally adjusted) was 2.32, decreased by 0.06 point from the previous month.

Active job openings-to-applicants ratio for regular staff (seasonally adjusted) was1.02, decreased by 0.01 point from the previous month.

Trend in Unemployment Rate and Ratio of Active Job
Openings to Applicants (seasonally adjusted)

Report on Labour supply projects (FY2021)

March 31 released by the Ministry of Health, Labour and Welfare

Report on Worker Dispatching Business (FY2021)

March 31 released by the Ministry of Health, Labour and Welfare

Indices of Industrial Production (Preliminary Report for February 2023)

March 31, released by the Ministry of Economy, Trade and Industry

The index of industrial production (seasonally adjusted, 2015=100) was 94.8, increased by 4.5% from the previous month. According to the Survey of Production Forecast in Manufacturing, Production is expected to increase in March and April.

Other Reports

Monthly Economic Report (March)

March 22, released by the Cabinet Office

The Japanese economy is picking up moderately, although some weaknesses are seen. (In the previous month, “The Japanese economy is picking up moderately, although some weaknesses have been seen recently”)

• Private consumption is picking up moderately. (The same as the previous month)
• Business investment is picking up. (The same as the previous month)
• Exports are in a weak tone. (In the previous month, “Exports have been in a weak tone recently”)
• Industrial production has been in a weak tone recently. (In the previous month, “Industrial production appears to be pausing for picking up”)
• Corporate profits are improving as a whole, although some weaknesses remain. Firms' judgments on current business conditions show movements of picking up. (The same previous month.)
• The employment situation is picking up. (The same as the previous month)
• Consumer prices are rising. (The same as the previous month)