S Korea sees jobless rate decline to 4.1% in March

16:23, April 14, 2010      

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South Korea saw a decline in its jobless rate in March from a month ago amid the nation's continued efforts to recover its employment market conditions, a government report said Wednesday.

According to the report by Statistics Korea, the jobless rate posted 4.1 percent in March, stepping down from 4.9 percent in February.

The February reading marked a decline for the second consecutive month, the report showed.

"Amid an economic recovery and the government's push, job market conditions have showed signs of progress since January," the organization said in a press release.

Meanwhile, the number of employment came in at 23.37 million in March, climbing 267,000 from a year earlier.

The gain marked the sharpest increase in 27 months, according to the report.

Despite the improved conditions, South Korea still saw a deteriorated job market condition with the total number of unemployed people standing at 1 million for three consecutive months since January.

The jobless condition stood worst among young people as the jobless rate among those aged at 15-29 stood at 9 percent, although the figure slightly fell from 10 percent a month ago.

With the market seeing a move of stabilization thanks to the government-led efforts, the government vowed that it will keep expansionary macroeconomic policy for the time being until the private sector is able to stand on its own.



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