[Research Report] Effective Job Opening Ratio for March 2026 is 1.18x, Unemployment Rate is 2.7%

Labor Market Report for March 2026

The Tsunagu Workstyle Research Institute, affiliated with Tsunagu Group Holdings, which provides RPO and recruitment consulting, has released its labor market data report for March 2026.

### Topics 1. The effective job opening ratio in March was 1.18x, a decrease of 0.01 points from the previous month. 2. The unemployment rate was 2.7%, rising from the previous month for the first time in two months. 3. New job openings decreased by 2.6% compared to the same month last year, marking 11 consecutive months of decline.

### 1: Effective Job Opening Ratio for March is 1.18x, Down 0.01 Points MoM The effective job opening ratio (seasonally adjusted) for March 2026 was 1.18x, down 0.01 points from the previous month and 0.07 points lower than the same month last year. The ratio for part-time jobs (seasonally adjusted) was 1.10x, a decrease of 0.07 points from the same month last year. The effective job opening ratio for regular employees (seasonally adjusted) was 0.99x, down 0.05 points from the same month last year, remaining below 1x for the sixth consecutive month.

### 2: Unemployment Rate at 2.7%, Rising MoM for the First Time in Two Months The unemployment rate (seasonally adjusted) for March 2026 was 2.7%, an increase of 0.1 points from the previous month and 0.2 points from the same month last year. By age group, only the 15-24 age group saw a decrease compared to the same month last year (-0.1 points). The total number of unemployed people was 1.94 million, an increase of 140,000 from the same month last year.

### 3: New Job Openings Decreased by 2.6% YoY, 11th Consecutive Month of Decline New job openings in March 2026 decreased by 2.6% compared to the same month last year, marking the 11th consecutive month of year-on-year decline. By industry, growth was seen in services (not elsewhere classified) (+3.1%), manufacturing (+2.0%), and construction (+0.1%), while declines were observed in information/communications (-15.8%), wholesale and retail trade (-6.5%), and accommodations and food services (-6.4%).

(Source) Ministry of Health, Labour and Welfare, "Employment Referral Statistics (March 2026)" Ministry of Internal Affairs and Communications, "Labour Force Survey (March 2026)"