日本失业率降至24年最低水平

Unemployment in Japan has fallen to its lowest level in 24 years as robust economic growth leads to a deepening shortage of labour.

由于经济强劲增长导致劳动力短缺加剧，日本失业率已降至24年来最低水平。

The unemployment rate dropped 0.1 percentage points in November to 2.7 per cent, the lowest figure since December 1994 when Japan was descending into what had become known as its “lost decade”.

今年11月，日本失业率下降0.1个百分点至2.7%，为1994年12月以来的最低水平。1994年12月，日本开始落入众所周知的“失去的十年”。

The continued drop in the unemployment rate, five years after Prime Minister Shinzo Abe began an economic stimulus, highlights the durability of the economic expansion under way in Japan.

失业率持续下降——发生在日本首相安倍晋三(Shinzo Abe)启动经济刺激的5年之后——凸显了日本进入经济扩张的延续时间之久。

“The current economic recovery is . . . characterised by its long duration,” said Haruhiko Kuroda, governor of the Bank of Japan, in a year-end speech. “The duration of the current recovery phase, which started in December 2012, likely reached 60 consecutive months in November 2017.”

“当前经济复苏……的特点是持续时间长，”日本央行(BoJ)行长黑田东彦(Haruhiko Kuroda)在年底的一次讲话中说，“当前复苏阶段开始于2012年12月的的持续时间，到2017年11月可能是连续第60个月了。”

The ratio of open jobs to applicants, regarded as a more sensitive indicator of the labour market than unemployment, rose from 1.55 to 1.56. That is the highest since January 1974, during Japan’s era of rapid economic growth.

空缺岗位与求职人数之比——被认为在衡量劳动力市场方面比失业率更为敏感的一项指标——从1.55上升至1.56。这是自1974年1月以来的最高值，当时日本正处于经济高速增长时期。

Prompted by monetary stimulus from Mr Kuroda and fiscal stimulus from Mr Abe, demand has grown steadily in Japan. On the other hand, the working age population is in decline. The result is widening shortages of workers.

在黑田东彦的货币刺激和安倍晋三的财政刺激的推动下，日本的需求已稳步升高。另一方面，劳动适龄人口数量正在降低。结果是，劳动力缺口越来越大。

However, labour shortages have been slow to generate inflation. “It cannot be denied that, relative to the strength of the economy and degree of labour market tightening, the pace of increase in wages is more sluggish than in past recovery phases,” Mr Kuroda said.

然而，劳动力短缺迟迟没有带来通胀。“无可否认的是，相对于经济的强劲程度和劳动力市场的紧张程度，工资上涨的速度比以往的复苏阶段更慢，”黑田东彦说。

The consumer price index was up 0.6 per cent in November compared with a year ago. Excluding volatile fresh food and energy prices, the increase was just 0.3 per cent, compared with the BoJ target of 2 per cent.

11月份日本消费物价指数(CPI)同比上涨0.6%。剔除波动较大的新鲜食物和能源价格之后，涨幅仅为0.3%，而日本央行定下的通胀目标为2%。

Mr Kuroda said the experience of deflation had made businesses reluctant to increase prices and workers hesitant to demand higher wages. But he argued that this would change as the economy becomes stronger.

黑田东彦表示，通缩经历导致企业不愿提高产品价格，工人不愿要求加薪。但他辩称，随着经济变得更强劲，这种局面将发生改变。

Minutes of the BoJ’s October meeting, published on Tuesday, suggested the central bank would maintain its stimulus to support a shift towards higher inflation.

周二公布的日本央行10月会议纪要暗示，该行将继续执行其刺激政策，以支持经济转向更高的通胀水平。