South Korea Unemployment Rate Rises To Three-Year High





South Korea's unemployment rate grew sharply in February to the highest level in nearly three years, data published by Statistics Korea revealed Wednesday.
The seasonally adjusted unemployment rate advanced to 3.9 percent in February from 3.2 percent in January. In February 2013, the jobless rate was 3.4 percent. The February figure was the highest since March 2011. On an unadjusted basis, there were around 1.18 million jobless persons in the country at the end of February, which was higher by 19.1 percent than in the same month of last year.
Data showed that the number of employed persons increased 3.5 percent year-on-year to about 24.82 million during February. At the same time, the labor force participation rate advanced 1.8 percent annually to 61.4 percent.



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