S.Korea's unemployment rate fell to 3.7% in April
South Korea's unemployment rate fell to 3.7 percent in April from a year earlier due to continued job growth in the private sector, a government report showed Wednesday.
The jobless rate stood at 3.7 percent last month, down 0.1 percentage point from the same month a year earlier, the Statistics Korea said in a monthly report. From the previous month, the rate dropped 0.6 percentage point.
Unemployment rate among those aged between 15 and 29 came in at 8.7 percent in April, up 0.1 percentage point from the previous year, but it was much lower than March's 9.5 percent, according to the report.
The number of people employed reached 24.3 million in April, up 379,000 from a year earlier. On-year job growth, however, slowed down after recording a above-400,000 mark in February and March, the report showed.
Despite the sluggish job creation in the public administrative sector, the private sector continued to see robust recruitment due to expanded industrial output caused by brisk exports, the report said.
Health and social welfare sector, which led the April job growth, created 179,000 jobs last month, with manufacturers adding 116,000 positions. The public administrative sector, however, lost 56,000 jobs, limiting further job creation last month.
"Job growth would have to exceed 360,000 per month for several months to restore employment to trend, which we don't consider likely," Tim Condon, head of Asia research at ING Groep in Singapore, said in a daily report.
Source: Xinhua
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The jobless rate stood at 3.7 percent last month, down 0.1 percentage point from the same month a year earlier, the Statistics Korea said in a monthly report. From the previous month, the rate dropped 0.6 percentage point.
Unemployment rate among those aged between 15 and 29 came in at 8.7 percent in April, up 0.1 percentage point from the previous year, but it was much lower than March's 9.5 percent, according to the report.
The number of people employed reached 24.3 million in April, up 379,000 from a year earlier. On-year job growth, however, slowed down after recording a above-400,000 mark in February and March, the report showed.
Despite the sluggish job creation in the public administrative sector, the private sector continued to see robust recruitment due to expanded industrial output caused by brisk exports, the report said.
Health and social welfare sector, which led the April job growth, created 179,000 jobs last month, with manufacturers adding 116,000 positions. The public administrative sector, however, lost 56,000 jobs, limiting further job creation last month.
"Job growth would have to exceed 360,000 per month for several months to restore employment to trend, which we don't consider likely," Tim Condon, head of Asia research at ING Groep in Singapore, said in a daily report.
Source: Xinhua
Weekly review May 05 Fight! against terrorism should strike at roots April 29 'Human rights overriding sovereignty' only a mask of hegemony May 04 Human rights dialogues need mutual understanding May 03 Highlights of China's sixth national census results May 07 The week in pictures May 03 Expats seeking opportunities in China May 04 Some Chinese colleges face decreasing enrollment, struggle to survive May 05 French leader: China's peaceful rise puts world at ease April 29 Ten most valuable cultural relics displayed at Xi'an exposition park May 03 US kills Bin Laden, ending 10-year manhunt Editor
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