Japan's unemployment rate unexpectedly fell to a four-month low in September, signaling that a recovery is spreading to consumers, says Bloomberg.
Bloomberg reports that the statistics bureau says the unemployment rate declined to 5.3% from 5.5% in August.
A separate report obtained by Bloomberg showed the job-to-applicant ratio, a leading indicator of employment trends, improved for the first time in more than two years. The ratio rose to 0.43 last month from a record low of 0.42 in August, meaning there are 43 jobs for 100 job seekers. Household spending rose 1% from a year earlier, says Bloomberg, quoting the statistics bureau.