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April 29, 2017

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South Korea's unemployment rate at 3.1%, the same for 3rd straight month

SEOUL -- South Korea's unemployment rate remained unchanged for a third straight month at 3.1 percent in September, official figures showed Wednesday.

The seasonally adjusted jobless rate has remained steady since July compared to a month earlier, Statistics Korea said. Unadjusted, the reading was at 2.9 percent in September compared to three percent in August.

The number of employed South Koreans in September rose by 685,000 from a year ago — stronger than a 364,000 increase in August — to 25 million.

The sharp rise is due to a low comparison base a year ago when the traditional Chuseok harvest holiday fell in September, Statistics Korea said.

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