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South Korea – Unemployment rate falls in May
By memberservices@staffingindustry.com (Danny Romero)
The jobless rate in South Korea fell to 3.6% in May, down by 0.1% when compared to last year, according to data from Statistics Korea.
The total number of unemployed stood at 1,003,000, which decreased by 2,000, year-on-year. Meanwhile the total number of employed stood at 26,824,000 which was an increase of 375,000, or 1.4%, year-on-year.
The labor force participation rate stood at 63.6% in May, up 0.3% year-on-year.
Employment grew in construction, educational services and real estate and leases, while it decreased in transportation, manufacturing, finances and insurance services. The manufacturing sector saw a loss of 25,000 jobs in May, which was the tenth straight month of contraction in the sector.
Source:: South Korea – Unemployment rate falls in May
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