Seoul, May 16 (IANS) South Korea’s jobless rate fell to 3.5 percent last month from a year earlier as job creation kept its solid growth trend in the service industry, a government report showed Wednesday.
The unemployment rate stood at 3.5 percent in April, down 0.2 percentage point from the same month of last year, according to Statistics Korea. From a month before, the rate was down 0.2 percentage point, reported Xinhua.
The country’s unemployment rate gauges the percent of people unemployed who actively sought jobs over the past four weeks to the economically active population, or the sum of people employed and those unemployed.
The number of people unemployed, who failed to land work despite job-hunting efforts, reached 895,000 last month, down 41, 000 from a year earlier.
The jobless rate among those aged between 15 and 29 came in at 8.5 percent in April, down 0.2 percentage point from a year before. The rate was up 0.2 percentage point from the previous month.
The total number of people employed grew 455,000 on-year to reach 24.76 million in April, the seventh straight month of creating over 400,000 jobs.