Menu Content

Economy

S. Korea's Jobless Rate Rises to 4% in August

Write: 2018-09-12 09:09:18Update: 2018-09-12 11:22:00

S. Korea's Jobless Rate Rises to 4% in August

Photo : YONHAP News

South Korea's jobless rate rose slightly in August as job creation continued to decrease.

According to Statistics Korea on Wednesday, the number of employed people last month stood at 26-point-nine million, an increase of three thousand from a year earlier. 

Monthly job growth hit the lowest point since January 2010, when it posted a decrease of ten-thousand. 

The figure, which hovered around 300-thousand last year, has remained below 200-thousand for seven consecutive months. 

The country's overall employment rate dropped three tenths of a percentage point on-year to 60-point-nine percent in August, while the jobless rate climbed to four percent last month, up point-four percentage point on-year. 

The number of jobless people came to one-point-13 million, up around 134-thousand from a year ago. The figure marks the largest August figure since 1999, when it reached as high as one-point-36 million. It was the eighth straight month that the figure has been above one-million. 

The unemployment rate for young people, aged between 15 and 29, came to ten percent, up point-six percentage point from a year earlier. It is also the highest August rate since 1999, when ten-point-seven percent of young people were unemployed.

Editor's Pick