South Korea – Number of unemployed tops 1 million (Xinhua)

By memberservices@staffingindustry.com (Danny Romero)

The number of unemployed South Koreans exceeded 1 million in 2016, the first time since 2000, reports Xinhua, with data from Statistics Korea. The figures also showed a record jobless rate for unemployed youth (15-29), at 9.8%. The number of people employed totaled 26,235,000 in 2016, up 299,000 from a year earlier, marking the lowest annual growth in seven years. The overall unemployment rate rose 0.1% over the year to 3.7% in 2016, the highest since 2010. The seasonally adjusted unemployment rate for the month of December was 3.4%, down from 3.5% last year.

Source:: Staffing Industry Analysts Daily Newsfeed