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Biz News Korea(Eng)
Korea’s youth jobless rate hits fresh monthly high in June
- Collected
- 2016.07.14
- Distributed
- 2016.07.15
- Source
- Go Direct
According to June employment data released by the Statistics Korea on Wednesday, the jobless in the population aged between 15 and 29 looking for work increased by 18,000, or 0.1 percentage point, to 10.3 percent last month against the same month last year. It is the highest since the all-time record of 11.3 percent in June 1999 when the guideline for jobless was revised to those looking for a job for four weeks from one week.
Overall unemployment rate came to 3.6 percent, down 0.3 percentage point or 46,000 from the same period of last year. While the number of the unemployed in their 20s increased, joblessness in older group of between 30s and 50s decreased.
The unemployment rate in South Gyeongsang region, home to Korea’s shipyards that are undergoing restructuring, was the highest at 3.9 percent, up 1.0 percentage point.
The number of the employed stood at 26,559,000 in June, up 354,000 from the same month last year.
The employment rate of the youth aged between 15 and 29 gained 1.7 percentage points because of increased hires of 20s group last year. The employment rate under the guideline of the Organization for Economic Cooperation and Development last month was 66.5 percent, up 0.5 percentage point.
By Kim Gyu-sik
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]