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Financial News: South Korea Jobless Rate Rises In October

South Korea Jobless Rate Rises In October

11/12/2019 - 23:43:00 (RTTNews)

(RTTNews) - South Korea's unemployment rate rose marginally in October, figures from Statistics Korea showed on Wednesday.

The jobless rate climbed to a seasonally adjusted 3.5 percent in October from 3.4 percent in September. Economists had expected the rate to rise to 3.4 percent.

On an unadjusted basis, the unemployment rate fell to 3.0 percent from 3.1 percent in September. In the same period last year, the unemployment rate was 3.5 percent.

The number of unemployed persons fell to 864,000 from 973,000 last year.

At the same time, the number of employed persons rose to 27.50 million in October from 27.09 million in the same month last year. In September, employed persons totaled 27.40 million.

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