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Youth Unemployment in S. Korea Hits 17-Year High

Written: 2016-03-16 08:50:50Updated: 2016-03-17 10:41:42

Youth unemployment in South Korea reached 12-point-five percent last month, the highest since 1999.

According to a report by Statistics Korea, unemployed youths between the ages of 15 and 29 numbered 560-thousand in February, an increase of 76-thousand from January.

February’s figure was the highest since June 1999 when officials altered the unemployed tallying method to include those who had actively sought jobs for up to four weeks, instead of one week.

The number of the employed in February, meanwhile, reached 25-point-41 million, an uptick of 223-thousand from the same month last year. The jump, however, is the smallest since last April when the comparative on-year rise was 216-thousand.

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