The Korea Herald

지나쌤

S. Korea's jobless rate stands at 3.2 pct in October

By KH디지털2

Published : Nov. 12, 2014 - 09:58

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South Korea's jobless rate remained unchanged from a month earlier in October, but the pace of job creation slowed to a four-month low, a government report showed Wednesday.

The country's jobless rate stood at 3.2 percent last month, according to the report from Statistics Korea. The seasonally adjusted jobless rate also remained unchanged from a month earlier at 3.5 percent.

The number of employed people came to 25.95 million in October, up 406,000 from the same month last year. This is the slowest on-year job growth since June when 398,000 jobs were added to the economy.

The slow growth was partly attributed to a large loss of jobs in the farming sector. In October, payroll in the farming sector shrank by 146,000, down 8.3 percent from the same month last year.

"The total number of people employed rose by about 400,000 from a year earlier as the drop in the number of jobs in the farming sector continued, with the rise in the number of people employed in the service, manufacturing and retail industries also slowing down," the report said.

The public service sector lost 52,000 jobs while the manufacturing and retail industries added 142,000 new jobs, up 3.4 percent on-year. The number of jobs in the retail and wholesale sector gained 3.5 percent on-year to 128,000.

The number of unemployed people came to about 858,000, up from 849,000 in the previous month despite a fall in the youth unemployment rate.

The jobless rate for people aged between 15 and 29 years came to 8 percent, down from 8.5 percent in the previous month, according to the report. (Yonhap)