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No. of Unemployed Tops 1 Million for First Time Since 2000

Written: 2017-01-11 09:26:04Updated: 2017-01-12 08:54:00

No. of Unemployed Tops 1 Million for First Time Since 2000

The number of unemployed South Koreans surpassed one million last year for the first time since 2000. The jobless rate for young people aged between 15 to 29 reached a new high.

According to job data released on Wednesday by Statistics Korea, the average number of unemployed people among job seekers stood at one-million-12-thousand last year. That's up by 36-thousand from a year earlier.

The unemployment rate for 2016 was three-point-seven percent, up zero-point-one percentage point. It ties with a level last seen in 2010.

The youth unemployment rate was tallied at nine-point-eight percent last year, renewing the previous record of nine-point-two percent set in 2015.

The number of people with jobs rose by 299-thousand from 2015 to 26-point-235 million. The employment rate edged up by zero-point-one percentage point in a year to 60-point-four percent.

For the month of December, the unemployment rate stood at three-point-two percent, staying unchanged from a year earlier.

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