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Worst Youth Unemployment Despite Overall Job Growth

Written: 2017-05-11 08:51:20Updated: 2017-05-12 09:58:43

The number of jobs in South Korea increased by more than 400-thousand for the second consecutive month in April, but the youth unemployment rate surged to a record high for the month. 
 
According to Statistics Korea on Thursday, a total of 26-million-577-thousand people were employed across the country as of last month, up by 424-thousand from the same month last year.

The unemployment rate for young job seekers aged 15 to 29, however, rose by zero-point-three percentage points to eleven-point-two percent, the highest level for the month of April since the agency began to compile related data in June of 1999.

The employment rate last month stood at 60-point-eight percent, inching up by a half percentage point from a year earlier, while the unemployment rate also rose by zero-point-three percentage points to four-point-two percent.

On-year job growth fell to below 300-thousand in December and January, but it grew to 371-thousand in February before jumping to 466-thousand in March.


 
 

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