Global Slowdown Hits Japan as Unemployment Rate Surges: Economy

Japan’s jobless rate surged by more than the predictions of 29 economists, adding pressure on the central bank to expand stimulus as Europe’s debt crisis deepens and gains by the yen impede the nation’s recovery.

The unemployment rate increased to 4.5 percent in October from 4.1 percent in September, the statistics bureau said today in Tokyo. That exceeded analysts’ median estimate of 4.2 percent and was the highest level in three months.