South Korea’s jobless rate falls

Hong Kong, April 10 (IANS) South Korea’s jobless rate fell in March from a month earlier and job creation also picked up speed, raising expectations that labour market conditions might be rebounding from a slump, a government report showed Wednesday.

According to the report by Statistics Korea, the jobless rate stood at 3.5 percent last month, down from the previous month’s 4 percent, the highest since February last year, reported Xinhua.

The jobless rate adjusted for inflation also declined to 3.2 percent last month from February’s 3.5 percent.

Job creation also accelerated, with the number of employed people standing at 24.5 million in March, up 249,000 from a year earlier. The increase is also higher than the 201,000 jobs added in February, the report showed.

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