South Korea Unemployment in March Near Record Low

The jobless rate in South Korea stood near a record low in March, while the number of people employed continued to rise.

The unemployment rate in March was at 3 percent, down 1.3 percentage points from the previous year, data from Statistics Korea showed on Wednesday.

The seasonally adjusted rate stood at 2.7 percent, unchanged from February and the lowest since the data release began in 1999.

Meanwhile, employment was up 2.1 percentage points from March 2021 to 67.8 percent in 2022. That translates to 831,000 jobs added in March compared to a year ago, following an increase of 1,037,000 jobs in February.

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