South Korea jobless rate down slightly to 3.9 % in April

By Park Sae-jin Posted : May 11, 2016, 09:33 Updated : May 11, 2016, 09:33

[Aju News DB]


South Korea's unemployment rate in April fell to 3.9 percent from 4.3 percent a month ago, but concerns are growing over a high rate of youth unemployment with no signs of improvement in the job market due to corporate restructuring.

The youth jobless rate (aged between 15 and 29 ) stayed at 10.9 percent in April, down from an all-time high of 12.5 percent in February and 11.8 percent in March, Statistics Korea reported Wednesday.

In April, some 26.2 million people were employed, up 252,000 from a year earlier due to seasonal demands for corporate recruitment.

However, Statistics Korea gave an uncertain outlook, saying the job market would be affected by a wave of corporate restructuring. Business surveys have predicted massive layoffs at South Korean shipyards in the second half of this year.

Aju News Lim Chang-won = cwlim34@ajunews.com
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