South Korea’s jobless rate jumps to 3-1/2-year high in December

SOUTH Korea’s jobless rate jumped to the highest in 3-1/2 years in December, as economic uncertainty heightened and sentiment dampened amid political turmoil, official data showed on Wednesday.

The unemployment rate rose in December to 3.7 per cent on a seasonally adjusted basis, the highest since June 2021 and sharply up from 2.7 per cent in November, according to Statistics Korea.

The number of employed people fell by 52,000 over the 12 months to December, after a gain of 123,000 in November. It was the first fall since February 2021. REUTERS