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Gov't: S. Korea's Economy Continuously Picking up

Written: 2018-02-09 11:31:24Updated: 2018-02-09 14:34:37

Gov't: S. Korea's Economy Continuously Picking up

The government has assessed that the nation’s economy is continuously picking up thanks to growth in production and investment amid brisk exports. 

The Finance Ministry's "Green Book" monthly economic assessment report released Friday projected that economic recovery will continue on the back of improvements in the global economy and strong exports.

However, it said bleak employment prospects resulting from a surge in youth unemployment, contentious trade issues and key economies’ plans to adjust monetary policies will likely be risk factors.

Employment only grew by 253-thousand in both November and December as hiring in the manufacturing and construction sectors improved, but lagged in the service sector. The jobless rate for young people aged between 15 and 29 worsened to nine-point-two percent in December from eight-point-four percent a year ago.

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