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S. Korea’s Jobless Rate Drops to 3.5 Pct in July

S. Korea’s Jobless Rate Drops to 3.5 Pct in July

SEJONG, Aug. 10 (Korea Bizwire) – South Korea’s jobless rate dropped slightly in July from a year earlier, with the unemployment rate for young adults also declining, a government report showed Wednesday.  The unemployment rate in Asia’s fourth-largest economy stood at 3.5 percent last month, compared with 3.6 percent tallied in June, according to the [...]

Gov’t Bans Seoul City from Providing Allowances to Young Jobseekers

Gov’t Bans Seoul City from Providing Allowances to Young Jobseekers

SEOUL, Aug. 4 (Korea Bizwire) – South Korea’s government on Thursday halted the Seoul city’s controversial program of providing cash allowances to thousands of young jobseekers, which kicked off earlier this week.  On Wednesday, the Seoul Metropolitan Government said it had selected a total of 3,000 applicants and would provide them with 500,000 won (US$448) [...]

Unemployed 20-somethings Hits New High for H1

Unemployed 20-somethings Hits New High for H1

SEOUL, Jul. 27 (Korea Bizwire) — The number of unemployed South Koreans in their 20s hit a new first-half record, data showed Sunday, adding to concerns over murky employment outlooks for the country’s younger generation. There were 410,000 unemployed people aged between 20 and 29 in the January-June period, the highest level since relevant data [...]

Korea’s Youths Take on Temporary Jobs as Labor Market Dims

Korea’s Youths Take on Temporary Jobs as Labor Market Dims

SEOUL, Jan. 14 (Korea Bizwire) — One of five South Koreans start their career with temporary jobs with a contract period of less than a year, government data showed Wednesday, reflecting toughening job market conditions for fresh high school and college graduates. Some 761,000 workers between the ages of 15 and 29, or 19.5 percent [...]

“Actual” Unemployment Rate Reaches over 10%

“Actual” Unemployment Rate Reaches over 10%

SEOUL, Nov. 14 (Korea Bizwire) — Korea’s statistical agency released data on unemployment that include those without jobs for voluntary reasons such as housewives. Including these figures, Korea’s jobless rate is more than 10 percent, more than three times that of the current official unemployment rate. Accordingly, the number of those with no job will increase to [...]