Recent Statistical Survey Reports, March 2022

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Statistical Survey Reports

Indexes of Business Conditions January 2022 (Preliminary Release)

March 8, released by the Cabinet Office

The Coincident Index of Composite Index (CI, revised figures, 2015=100) in January was 94.3, a decrease of 0.5 point. And 3 months backward moving average increased by 1.13 point, and 7 months backward moving average decreased by 0.06 point. So the Assessment of Coincident Index was "Weakening" (the same as the previous month)

The Leading Index was 103.7, a decrease of 1.0 point, and the Lagging Index was 93.1, a decrease of 1.6 point.

March 23 Indexes of Business Conditions January 2022(Revision of the Preliminary Release

Monthly Labour Survey (Provisional Report in January)

March 8, released by the Ministry of Health, Labour and Welfare

Total amount of cash earnings increased by 0.9% and contractual cash earnings increased by 0.6% (full-time employees 0.9%, part-time employees 0.9%) from a year earlier.

Special cash earnings increased by 7.6% from a year earlier. Scheduled cash earnings increased by 0.4% and non-scheduled cash earnings increased by 4.4% from a year earlier. Real wage (total cash earnings) increased by 0.4% from a year earlier and real wage (contractual cash earnings) unchanged from a year earlier.

Total hours increased by 0.3%, scheduled hours worked unchanged and non-scheduled hours worked increased by 3.3% from a year earlier.

Non-scheduled hours worked by manufacturing industry workers increased by 0.7% from the previous month (seasonally adjusted).

National Accounts (The 2nd Preliminary Estimates Oct.-Dec.2021)

March 9, released by the Cabinet Office

Real GDP (Gross Domestic Product) growth rate (Seasonally Adjusted) at Oct.-Dec.2021 was 1.1% (4.6% on annual basis). Of real GDP growth rate, 0.9% was contributed by domestic demand and 0.2% by external demand. Compensation of Employees (real) was 0.2% and compensation of Employees (nominal) was -0.4% (changes from the previous quarter (seasonally adjusted)).

Quartely Estimates of GDP: Oct. ~Dec. 2021 (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 11, 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 up 1.6% in real terms from the previous year. The change over the year of wages & salaries was down 0.5% in real terms from the previous year (household heads: 1.9% in real terms, spouse of household: -3.8% in real terms).

The average of consumption expenditures for a worker’s household with 2 or more family members was up 5.0% in real terms from the previous year.

Indices of Industrial Production (Revised Report for January 2022)

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

The index of industrial production (seasonally adjusted, 2015=100) was 95.7, decreased by 0.8% from the previous month.

Survey on Labor Economic Trend (February 2022)

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

By the judgment of employment surplus or shortage DI as of February 1, 2022, regarding the trend of the sense of employment surplus or shortage, in the total of industries surveyed, regular staff, etc. accounted for 39 and the DI shows shortage for 43 consecutive terms. And, that of part-time workers accounted for 26 and the DI shows shortage for 50 consecutive terms.

Consumer Price Index Japan (February)

March 18, released by the Ministry of Internal Affairs and Communications

The consumer price index for Japan in February 2022(preliminary) was 100.7(2020=100), up 0.9% from the previous year. All items, less fresh food, the comprehensive index was 100.5, up 0.6% from the previous year. All items, less fresh food and energy, the comprehensive index was 99.2, down 1.0% from the previous year.

Indexes of Business Conditions January 2022(Revision of the Preliminary Release)

March 23, released by the Cabinet Office

The Coincident Index of Composite Index (CI, revised figures, 2015=100) in January was 95.6, a decrease of 0.1 point. And 3 months backward moving average increased by 1.30 point, and 7 months backward moving average increased by 0.02 point. So the Assessment of Coincident Index was “Weakening” (the same as the previous month)

The Leading Index was 102.5, a decrease of 1.2 point, and the Lagging Index was 94.3, a decrease of 0.6 point.

Survey on Supply and Demand of Construction Labor

March 25, released by the Ministry of Land, Infrastructure, Transport and Tourism

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

March 25, released by the Ministry of Internal Affairs and Communications

The consumer price index for Ku-area of Tokyo in March 2022(preliminary) was 101.1(2020=100), up 1.3% from the previous year. All items, less fresh food, the comprehensive index was 100.8, up 0.8% from the previous year. All items, less fresh food and energy, the comprehensive index was 99.8, down 0.4% from the previous year.

Basic Survey on Wage Structure (2021)

March 25, released by the Ministry of Health, Labour and Welfare

The average scheduled cash earning for general employees was 307,400yen (a decrease of 0.1% from the previous year), that for men was 337,200yen (a decrease of 0.5% from the previous year) and that for women was 253,600yen (an increase of 0.7% from the previous year).

Hourly wages of part-time employees was 1,384yen (a decrease of 2.0% from the previous year), that for men was 1,631yen (a decrease of 1.6% from the previous year), that for women was 1,290yen (a decrease of 2.3% from the previous year.

Labour Force Survey (February)

March 29, released by the Ministry of Internal Affairs and Communications

The unemployment rate (seasonally adjusted) was 2.7%, decreased by 0.1 point from the previous month. That for men was 3.0%, unchanged from the previous month and that for women was 2.4%, unchanged from the previous month. The number of unemployed persons (seasonally adjusted) was 1.88 million, increased by 30 thousand from the previous month.

The number of employees was 60.05 million, decreased by 220 thousand from the previous year.

Among them, the number of regular employee was 35.77 million, decreased by 120 thousand from the previous year and the number of non-regular employee was 20.73 million, increased by 100 thousand from the previous year.

Employment Referrals for General Workers (February)

March 29, released by the Ministry of Health, Labour and Welfare

Active job openings-to-applicants ratio (seasonally adjusted) was 1.21, increased by 0.01 point from the previous month.

The number of monthly active job openings (person(s)) (seasonally adjusted) was decreased by 0.2% from the previous month and the number of monthly active applications (person(s)) (seasonally adjusted) was decreased by 1.4% from the previous month.

New job openings-to-applicants ratio (seasonally adjusted) was 2.21, increased by 0.05 point from the previous month.

Active job openings-to-applicants ratio for regular staff (seasonally adjusted) was 0.93, increased by 0.02 point from the previous month.

Trend in Unemployment Rate and Ratio of Active Job Openings

to Applicants (seasonally adjusted)

Indices of Industrial Production (Preliminary Report for February 2022)

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

The index of industrial production (seasonally adjusted, 2015=100) was 95.8, increased by 0.1% from the previous month. According to the Survey of Production Forecast in Manufacturing, Production is expected to increase in March and April.

Report on Worker Dispatching Business (June 1, 2021)

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

The number of dispatched workers was about 1.69 million (an increase of 8.0% from the report in the previous year).

Report on Worker Dispatching Business (FY2021)

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

The number of dispatched workers was about 1.93 million (an increase of 4.9% from the report in the previous year).

Other Reports

Monthly Economic Report (March)

March 25, released by the Cabinet Office

The Japanese economy continues to show movements of picking up, although some weaknesses are seen as a severe situation due to the Novel Coronavirus remains. (The same as the previous month)

• Private consumption appears to be pausing for picking up recently. The same as the previous month)
• Business investment shows movements of picking up. (The same as the previous month)
• Exports are almost flat. ((The same as the previous month)
• Industrial production shows movements of picking up. (The same as the previous month)
• Corporate profits are improving as a whole, although some weaknesses remain in non-manufacturers due to the influence of the infectious disease. Firms' judgments on current business conditions appear to be pausing for picking up. (“Corporate profits are picking up, although some weaknesses remain in non-manufacturers due to the influence of the infectious disease. Firms' judgments on current business conditions show movements of picking up”)
• Employment situation shows picking up in some components such as job offers, while weakness remains due to the influence of the infectious disease. (The same as the previous month)
• Consumer prices are rising moderately recently. (“Consumer prices show steady movements”)