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South Korea's jobless rate rises in December

South Korea's jobless rate rises in December

South Korea's unemployment rate rose in December for the second straight month, the government said Wednesday, as the economy shed jobs for the first time in more than five years.
The jobless rate stood at 3.3 percent, rising from both 3.1 percent in November as well as December the year before, according to a report released by the Korea national Statistical Office. The rate was 3 percent in October.
South Korea registered 12,000 fewer jobs in December from the same month in 2007, the report said, the first decline since October 2003.
The global financial crisis and economic slowdown have taken a toll on demand for South Korean goods. Industrial production plunged 14.1 percent in November from the same month the year before. Exports fell 17.4 percent in December.
Among the sectors losing jobs were agriculture, mining and industry, manufacturing, the self-employed and temporary workers, the report said.
For all of 2008, the jobless rate stood at 3.2 percent, unchanged from 2007. The rate peaked in 2008 at 3.5 percent in February.
Adjusted for seasonal factors, jobless rate was unchanged in December at 3.3 percent from the November, the data showed.


Updated : 2021-04-15 19:59 GMT+08:00