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New Hires in Manufacturing Sector Fall by Widest Margin in 7 Years

Written: 2016-11-09 11:06:07Updated: 2016-11-10 09:59:35

The number of new hires in the manufacturing sector fell by the widest margin in more than seven years in October.
 
According to Statistics Korea on Wednesday, the jobless rate for October was also at its highest since 2005.
 
The agency said the number of employed people stood at 26-point-57 million last month, up 278-thousand from the previous year.
 
The number of newly employed people in the manufacturing sector has been slipping for four straight months since July and the extent of decline growing wider each month.
 
The employment rate was at 61-point-one percent, up zero-point-two percentage points on-year.
 
The employment rate of those between the ages of 15 and 64, which is the standard used to compare Organization for Economic Cooperation and Development member countries, was at 66-point-five percent, up zero-point-three percentage points. 

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