Unemployment rate declined to 3.3% y/y in June.

By bne IntelliNews July 14, 2011
South Korea's unemployment rate declined to 3.3% y/y in June this year, declining by 0.2% from the same period a year earlier, owing to increased employment in the private sector amidst economic recovery. As reported by Xinhua News Agency, unemployment rate among those aged between 15 and 29 reduced by 0.7% y/y to 7.6% in June. The number of people employed increased to 24.75mn in June, increasing by 472,000 from the year earlier. The expansion, which is the largest posted in the last 11 months, has been attributed to increased production and consumption caused by robust exports as well as robust recruitment in the healthy and service sector and the wholesale and retail sector.

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