FXstreet.com (Barcelona) - Japan's jobless rate rises by 0.3 percentage points to 4.4% in February. Hiroshi Watanabe, senior economist at Daiwa Institute of Research said: A big rise, about 100,000 people lost their jobs because firms asked them to quit, the data show, which is a typical pattern seen during the time of recession.

Expects jobless rate to continue to rise, with its peak probably around July or August. Household spending also falls; notes consumer spending is also expected to worsen because firms that faced severe drop in profits in the first quarter will need to cut wages and jobs ahead.