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S. Korea's Job Losses Continue for Ninth Month

Write: 2020-12-16 08:45:47Update: 2020-12-16 18:46:15

Photo : YONHAP News

South Korea lost more than 270-thousand jobs in November, extending the losing streak to a ninth month amid the COVID-19 pandemic. 

According to Statistics Korea on Wednesday, the number of employed people reached 27-point-24 million last month, down 273-thousand from a year earlier.

The pace of the decline eased from October, when the nation lost 421-thousand jobs to mark the largest drop in six months.

Jobs have decreased since March, and it is the longest decline since the country posted losses for 16 months from January 1998 when it was reeling from the foreign currency crisis.

The employment rate for those aged 15 and older slipped by one percentage point on-year to 60-point-seven percent, the lowest figure for any November since 2013. 

The country's jobless rate rose by point-three percentage points on-year to three-point-four percent last month, the highest November figure since 2004.

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