South Korea added more than 340-thousand jobs in October compared to the previous year, with job growth expanding for the third consecutive month. 

According to Statistics Korea on Wednesday, the number of employed people stood at 28 million-764-thousand last month, up 346-thousand on-year.

It marks the largest on-year gain since May when 351-thousand jobs were added, and also the third consecutive month of job growth expansion. 

Last month’s job growth was led by an on-year increase of 336-thousand jobs among people aged 60 and above. However, the figure for those aged 15 to 29 decreased by 82-thousand, marking the 12th consecutive month of decline for that age group.

The employment rate for those aged 15 and older rose by zero-point-six percentage points on-year to reach 63-point-three percent, the highest figure for the month of October since such records began in 1982. Similarly, the rate for those aged 15 to 64 also rose by zero-point-eight percentage points on-year to 69-point-seven percent, the highest October figure since equivalent records began 1989.

Concurrently, the unemployment rate dropped by zero-point-three percentage points on-year to two-point-one percent last month.