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Job Growth Falls Below 400,000

Written: 2016-02-17 13:29:50Updated: 2016-02-17 15:48:01

Job Growth Falls Below 400,000

South Korea's on-year job growth fell to below 400-thousand last month.

According to data by Statistics Korea released Wednesday, 25-point-45 million people remained employed in January, up 339-thousand from the same month in 2015.  

It is a modest job growth compared with December when the number of jobs created hit a 16-month high at 495-thousand.

The employment rate in January stood at 58-point-eight percent, up zero-point-one percentage point from a year earlier.

The employment rate for those between the ages of 15 and 64, which is a standard age bracket in the comparison among the Organization for Economic Cooperation and Development(OECD) members, rose by zero-point-four percentage point to 65-point-two percent.

The unemployment rate dropped by zero-point-one percentage point to three-point-seven percent, but the youth unemployment rate for those aged 15 to 29 rose to the highest level in seven months at nine-point-five percent.

The real unemployment rate, which takes into account the de facto jobless, such as those who seek a regular job while working part-time, also rose to a ten-month high of eleven-point-six percent. 

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