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S.Korea's unemployment tops 1 mn in January
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IANS | 14 Feb, 2018
Unemployment in South Korea
topped 1 million in the first month of this year, with the jobless rate
standing at 3.7 per cent, a government report showed on Wednesday.
The
number of those unemployed was 1.02 million in January, up 12,000 from
the same month of last year, according to Statistics Korea. It surpassed
1 million in seven months, indicating the still lacklustre labour
market conditions, Xinhua reported.
The unemployment rate was
unchanged at 3.7 percent in January from a year earlier, but the rate
for youths aged 15-29 rose 0.1 percentage point to 8.7 per cent in the
month.
South Korean President Moon Jae-in, who took office last
May, vowed to make all-out efforts to create decent jobs especially for
the younger generation.
Moon said in his New Year's press
conference that his government's top priority will be job creation. He
pledged to foster growth of the economy by creating decent jobs as job
creation leads to more household income and more private consumption.
The
sentiment jobless rate among youths came to 21.8 per cent in January,
down 0.8 percentage points from a year earlier. It was the first decline
in 10 months since March 2017.
The official unemployment rate
refers to those who are immediately available for work, but fail to get a
job in the past four weeks despite efforts to actively seek a job.
The
sentiment rate adds those who are too discouraged to seek a job, those
who work part-time against their will to work full-time and those who
prepare to get a job after college graduation to the official jobless
rate.
The sentiment rate began to be compiled in January 2015 to more accurately reflect labour market conditions.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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