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South Korea's August jobless rate hits record low

Thứ Sáu, 16 tháng 9, 2022
South Korea's August jobless rate hits record low © Reuters. South Korean job seekers wear face masks while maintaining social distance before an exam to avoid the spread of the coronavirus disease (COVID-19), in Seoul, South Korea, April 25, 2020. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - South Korea's unemployment rate fell to a record low in August, while employed people increased for an 18th straight month, government data showed on Friday.

The country's seasonally adjusted unemployment rate for August fell to 2.5% from 2.9% in July, hitting the lowest since the data release began in June 1999, according to the Statistics Korea.

The number of employed people increased by 807,000 compared with the same month a year earlier, extending annual gains to an 18th consecutive month. The pace of gains though was milder than 826,000 in July and 841,000 in June.

"Employment growth is expected to slow going forward as uncertainties are increasing on worsening external conditions and weaker consumption due to high inflation and interest rate hikes," vice finance minister Bang Ki-sun said at an economic policy meeting after the data release.

The increase was driven mostly by the manufacturing sector, which added 240,000 employees, the biggest under the current categorisation that began in 2013, followed by health and social welfare services' 123,000 and agriculture and fisheries' 9,000.

By age group, those 60 and older accounted for more than half by adding 454,000, while workers in their 50s, 30s and 20s, increased by 182,000, 98,000 and 65,000, respectively.

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 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
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 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
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 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
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 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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