South Korea’s jobless rate falls to 3.9 pct in April
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South Korea’s jobless rate fell in April as more people were hired in the accommodation and retail sectors, but the unemployment rate for young people still remained high, a government report showed Wednesday.
The unemployment rate sank to 3.9 percent in April, from 4.3 percent in March. The seasonally adjusted jobless rate also dropped to 3.7 percent from 3.8 percent over the cited period.
But job creation decreased from the previous month. The number of employed people stood at 26.2 million last month, up 252,000 from a year earlier. It is lower than the previous month’s 300,000 gain.
The unemployment rate for young people, aged between 15 and 29, reached 10.9 percent last month, slightly down from 11.8 percent in March. It marked the highest number for the month of April.
Questions & Answers
Q.Which specific sectors saw an increase in hiring that contributed to the fall in South Korea's jobless rate?
Which specific sectors saw an increase in hiring that contributed to the fall in South Korea's jobless rate?
The reduction in the jobless rate was primarily due to increased hiring within the accommodation and retail sectors. More people found employment in these areas during April.
Q.What was the seasonally adjusted jobless rate in South Korea during April?
What was the seasonally adjusted jobless rate in South Korea during April?
In April, South Korea's seasonally adjusted jobless rate fell to 3.7 percent. This represents a slight decrease from the 3.8 percent recorded in the previous month.
Q.How did the total number of new jobs created in April compare to the previous month?
How did the total number of new jobs created in April compare to the previous month?
The number of employed people increased by 252,000 from a year earlier, but this figure is lower than the 300,000 gain reported in the previous month, indicating job creation slowed.
Q.What was the unemployment rate for young people aged 15 to 29 in April, and how did it compare to previous years?
What was the unemployment rate for young people aged 15 to 29 in April, and how did it compare to previous years?
The unemployment rate for young people aged 15 to 29 was 10.9 percent in April, a slight decrease from March. This figure marked the highest rate recorded for the month of April.
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