South Korea's jobless rate fell in May to a record low, official data showed on Wednesday (June 14)
The employment report provides a brighter backdrop to the country as it navigates external challenges from tighter monetary policy and weak demand in key trading partner economies.
The number of employed people rose by 351,000 from the same month a year earlier, compared with increases of 354,000 in the previous month and 1,135,000 in January 2022, the peak of the current employment growth streak that started in March 2021. By industry, health and social welfare workers increased 166,000, followed by hospitality and catering services which gained 128,000 employees. The construction and manufacturing sectors lost 66,000 and 39,000 jobs, respectively.
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