Among all high-income countries, Japan consistently has the lowest long-run unemployment rate in the past 30 years
This is further explained below.
What is unemployment?
Generally, Japan has continuously maintained the world's lowest long-run unemployment rate during the last 30 years, outperforming all other high-income nations.
In conclusion, A person is considered to be unemployed if they are making an effort to obtain job but have been unsuccessful in their efforts. The rate of unemployment is often regarded as an important indicator of the state of the economy.
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