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February 28, 2020

Jobless rate falls to 3.1% in Nov.

PUBLISHED : December 11, 2019 - 10:47

UPDATED : December 11, 2019 - 10:47

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South Korea’s jobless rate fell to 3.1 percent in November, and job additions came to over 330,000, data showed Dec. 11.

The unemployment rate decreased 0.1 percentage point on-year, and the number of employed people reached 27.5 million in November, according to the data compiled by Statistics Korea.


The unemployment rate for young adults -- those aged between 15 and 29 -- also fell to 7 percent last month from 7.9 percent tallied a year earlier.

It marked the fourth straight month that the number of added jobs has exceeded the 300,000 level.

The statistics agency said the number of unemployed people stood at 866,000 in November, down 43,000 from a year earlier.

By industry, the health and social welfare sectors added 135,000 jobs, and the culture, sports and leisure-related service segment saw an increase of 82,000 jobs last month.

In contrast, the manufacturing sector -- the backbone of of South Korea’s economy -- continued to shed jobs by losing 26,000 jobs in November. The wholesale and retail sector suffered a decline in job offerings by losing 88,000 jobs in November.

By Ram Garikipati and newswires (ram@heraldcorp.com)

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