South Korea’s jobless rate rises unexpectedly to 2.6%


South Korea’s unemployment rate increased unexpectedly in June, though marginally, the data from Statistics Korea showed on Wednesday.

The unemployment rate rose to a seasonally adjusted 2.6 per cent in June from 2.5 per cent in May.

Meanwhile, economists expected the rate to remain at 2.5 per cent.

The unemployment rate was 2.9 per cent in the same month last year.

On an unadjusted basis, the jobless rate held steady at 2.7 per cent at the end of the second quarter.

The number of unemployed people in South Korea rose to 807,000 in June from 787,000 in the previous month.

At the same time, the number of employed people increased by 33,000 year-on-year to 28.812 million in June.


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