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Biz News Korea(Eng)
Number of long-term unemployed in Korea jumps steeply in Aug
- Collected
- 2016.09.22
- Distributed
- 2016.09.23
- Source
- Go Direct
According to data released by Statistics Korea on Wednesday, the number of job seekers who have been unemployed more than six months amounted to 182,000 in August, up 62,000 from the same month last year.
“The long-term unemployed figure shot up because it had not been easy for people graduating from college in February to find a job this year,” said Shim Won-bo from Statistics Korea. “It suggests decent jobs have become scarcer.”
The number of long-term jobless people hit record high of 274,000 in August 1999 as Korean companies were forced to streamline in return for an international bailout after 1997-1998 financial crisis. The figure declined to 58,000 in the same month in 2011, but turned upward from 2012. The 62,000 on-year jump of August this year was a record high since June 1999 when the guideline for jobless was revised to those looking for a job for four weeks from one week. The figure was 28,000 in August 2015 and 17,000 in 2014.
By Cho Si-young and Lee Seung-yoon
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