Service-sector led job creation sees dip in S. Korea unemployment rate
AFPSEOUL--South Korea's unemployment rate dipped slightly in August to a seasonally adjusted 3.1 percent, led by job creation in the service sector, government data showed Wednesday.
September 12, 2013, 12:12 am TWN
The August figure compared with 3.2 percent in July.
The number of employed people stood at 25.29 million in August, up 432,000 from a year earlier — the largest on-year increase for 11 months, Statistics Korea said.
The health and social welfare service sector created 175,000 new jobs in August compared with a year earlier, leading in job creation overall.
South Korea's central bank is expected to keep interest rates unchanged at 2.5 percent at its September monetary policy meeting on Wednesday.
Asia's fourth-largest economy has raised its 2013 growth outlook from 2.3 percent to 2.7 percent, citing the impact of stimulus measures taken earlier this year.