August 17, 2018 / 12:34 AM / Updated 8 minutes ago
South Korea creates 5,000 new jobs in July, smallest since January 2010
SEOUL (Reuters) - South Korea added a mere 5,000 new jobs in July, plunging from 106,000 a month earlier, official data showed on Friday, the smallest increase since January 2010 in the depths of the global financial crisis.
An employee hangs a job advertisement at a job center in Ulsan, South Korea, May 29, 2018. PREUTERS/Kim Hong-Ji
The latest job creation rate is far below the 72,000 reported in in May, which the South Korean finance minister said was a “shock”.
July unemployment rate stood at a seasonally adjusted at 3.8 percent, up 0.1 percent in June. Youth unemployment remained high at 9.3 percent, unchanged from June.
Reporting by Hayoung Choi; Editing By Eric Meijer
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