South Korea records the largest increase in unemployment since 2009



South Korea records the largest increase in unemployment since 2009

The unemployment rate in the Republic of Korea increased in July compared to the same period last year by 277 thousand people, reaching 4%.





The decline has continued for five months amid the coronavirus pandemic, the National Bureau of Statistics said on Wednesday.

According to the ministry, the total number of employed citizens in the country was 27.1 million. In the age group from 15 to 65, 66% had jobs, which is less than a year earlier.

The number of economically active residents fell in July by 236 thousand, to 28.2 million, and inactive — increased by 502 thousand, to 16.5 million.

The statistical office notes that the main reason for the longest rise in unemployment since 2009 is the pandemic, which has had a serious negative impact on business activity and the labor market.





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TAGS: SOUTH KOREA, UNEMPLOYMENT

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