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The Korea Herald
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THE INVESTOR
March 29, 2024

Economy

Korea’s jobless rate rises to 4.5% in March

  • PUBLISHED :April 11, 2018 - 09:30
  • UPDATED :April 11, 2018 - 09:30
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[THE INVESTOR] Korea’s jobless rate moved up slightly in March due to a rise in unemployment in the retail and educational service sectors, government data showed on April 11.

The unemployment rate stood at 4.5 percent last month, up 0.4 percentage point from a year earlier, according to the report compiled by Statistics Korea.

The seasonally adjusted jobless rate also rose to 4 percent in March, from 3.6 percent a year earlier, the data showed.

The number of employed people reached 26.55 million in March, up 112,000 from a year earlier, slightly rising from the previous month‘s jump of 104,000, according to the report compiled by Statistics Korea.

The unemployment rate for young adults -- those aged between 15 and 29 -- was 11.6 percent, compared with 11.3 percent a year earlier.

The employment rate remained unchanged at 66.1 percent from a year earlier, with the corresponding figure for young people at 42 percent, up 0.6 percentage point over the cited period.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)

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