The jobless rate for people under the age of 30 in South Korea has dropped to the lowest level in two years and five months.
 
According to Statistics Korea Wednesday, a total of 26-point-three-million people were employed in October, up 348-thousand from September. It is the largest growth posted in five months since May.
 
On the back of improved domestic consumption, the employment rate for those aged 15 through 29 marked 41-point-seven percent last month, up one-point-one percentage point from a year ago.
 
While the number of new recruits in the age bracket increased by 101-thousand year-on-year, the jobless rate for those in the group dropped zero-point-six percentage points to seven-point-four percent, the lowest level since May 2013.
 
Increasing industrial production largely accounted for the growth last month. Statistics Korea noted that industrial production in September posted the largest growth in 54 months. 
 
The number of new recruits in the manufacturing sector rose 191-thousand year-on-year, and that for business facility management rose by 104-thousand. 
 
The employment-population ratio remained the same from a year ago at 60-point-nine percent. The unemployment rate, however, dropped for the first time in 23 months, marking three-point-one percent in October, down zero-point-one percentage point from October 2014.