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S. Korea's Jobless Rate Hits 17-Year High in March

Written: 2018-04-11 09:20:25Updated: 2018-04-11 10:49:46

S. Korea's Jobless Rate Hits 17-Year High in March

South Korea's employment conditions appear to be at their worst with monthly job growth staying below 100-thousand for the second consecutive month in March.

According to data by Statistics Korea on Wednesday, the number of people with jobs stood at 26-point-six million in March, up 112-thousand from a year earlier.
    
In February, the job growth marked an eight-year low of 104-thousand.

The number of jobless people came to one-point-25 million last month, the third consecutive month that unemployment stayed above the one million mark.

The jobless rate reached four-point-five percent in March, the highest rate for the month since 2001 when it hit five-point-one percent.

The unemployment rate for young people, aged between 15 and 29, came to eleven-point-six percent, the highest March figure since 2016.

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