South Korean’s Unemployment Rate hits 7-month high

South Korea’s unemployment rate in January rose to a seven-month high as tens of thousands of college graduates flooded the job market, government data showed Wednesday.

The seasonally adjusted jobless rate stood at 3.2 per cent last month, unchanged from a year ago and higher than 3.0 per cent in December, state-run Statistics Korea said.

The January figure was the highest since June, when the figure stood at 3.2 per cent.

The unadjusted jobless rate also rose to 3.4 per cent in January compared with 2.9 per cent for December.


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