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BRIEFLY

Unemployment reached a record high in Japan.

July 01, 1987

Japanese unemployment hit a record 3.2% in May, and economists said the country may have to live with a high jobless rate for years. The government's Management and Coordination Agency said unemployment rose to 1.91 million as the strength of the yen forced Japan's exporters to lay off workers and reorganize. The rate was the highest since the agency started compiling statistics in 1953 and surpassed the previous record of 3% set in April. Economists predicted that unemployment will remain around 3% for the rest of the year and will remain relatively high for years to come as Japan struggles to restructure its export-driven economy.

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