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S. Korea's Jobless Rate Hits 13-Year High in Oct.

Written: 2018-11-14 09:31:03Updated: 2018-11-14 13:40:19

S. Korea's Jobless Rate Hits 13-Year High in Oct.

Photo : KBS News

South Korea's jobless rate hit a 13-year high in October, although monthly job growth slightly increased from a year ago. 

According to Statistics Korea on Wednesday, the number of employed people last month stood at 27-point-09 million, up 64-thousand from a year earlier. 

The monthly job growth figure has remained below 100-thousand for four consecutive months since July.

The country's overall employment rate dropped two tenths of a percentage point on-year to 61-point-two percent, slipping for nine straight months since February. 

The jobless rate came to three-point-five percent last month, up point-three percentage point on-year. It's the largest figure for the month of October since 2005 when it posted three-point-six percent. 

The unemployment rate for young people, aged between 15 and 29, came to eight-point-four percent, down two tenths of a percentage point from a year earlier. 

The number of jobless people stood at 973-thousand last month, up 79-thousand from a year earlier.

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