South Korea's April jobs fall at sharpest pace since 1999
[SEOUL] South Korea's unemployment rate was unchanged in April but the number of employed fell at the fastest pace in more than two decades, data showed on Wednesday, as measures to contain the coronavirus closed businesses and reduced social activity.
The nation's unemployment rate was a seasonally adjusted 3.8 per cent in April, unchanged from March.
However, the number of employed people in South Korea was 26.6 million in April, 476,000 fewer than a year earlier, marking the worst plunge since February 1999 when it shrank 658,000, the Statistics Korea data showed.
REUTERS
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US core capital goods orders rise moderately in March
Chinese tourists are again embracing international travel
Abu Dhabi raises US$5 billion with first eurobonds in three years
Thailand’s 500 billion baht handout aims to boost overall economy, not geared to poor: official
German business sentiment rises more than expected in April: Ifo
Indonesia’s central bank surprises with “pre-emptive” rate hike to cushion falling rupiah