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S.Korea adds 387,000 jobs in August,jobless rate at 3.6 pct

Xinhua, September 13, 2016 Adjust font size:

South Korea's economy added 387,000 jobs last month, with jobless rate recorded at 3.6 percent, a government report showed on Tuesday.

The number of those employed reached 26,528,000 in August, up 387,000 from a year earlier, according to Statistics Korea. It marked the highest growth since December last year.

Employment in the manufacturing industry reduced 74,000 in August from a year ago, falling for two straight months due to sagging exports and the ongoing restructuring in troubled shipbuilding and shipping sectors.

However, services industry created jobs, with employment in the wholesale and retail sector posting 38,000 jobs created. Employment in the restaurant and lodging sector was 103,000, with the figure in the construction industry amounting to 71,000.

Unemployment rate rose 0.2 percentage points from a year earlier to 3.6 percent in August. The number of those unemployed increased 73,000 last month due to growing unemployment from those in their 20s and 60s.

Jobless rate among youths reached 9.3 percent in August, up 1.3 percentage points from the same month of last year. It was higher than any August figure since August 1999. Endit