South Korea’s August unemployment rate hits record low

SOUTH Korea’s unemployment rate fell to a record low in August, while employed people increased for an 18th straight month, government data showed on Friday.

The country’s seasonally adjusted unemployment rate for August fell to 2.5 per cent from 2.9 per cent in July, hitting the lowest since the data release began in June 1999, according to the Statistics Korea.

The number of employed people increased by 807,000 compared with the same month a year earlier, extending on-year gains to an 18th consecutive month. REUTERS