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Published On: Wed, Aug 14th, 2013

S.Korea unemployment rate remains unchanged at 3,2% in July

South Korea’s unemployment rate stood at 3,2% in July, or remained steady according to Statistics Korea on Wednesday (14/8), thanks to new job openings in education and social serivces that help offset job cuts in manufacture sector.

The jobless rate was still unchanged for three months in a row. There are 16,000 new jobs in health and social services while education sector has added 26,000 jobs.

However, the manufacturing industry lost 13,000 jobs while construction sector cut 16,000 jobs.

The jobs data came out after the South’s central bank’s policy not to change its key interest rate for the third straight month despite the recovery signs in Asia’s fourth economy powerhouses.

The stimulus measures taken in early 2013 also helps boost optimism as the government increased growth outlook from 2.3% to 2.7% in June.

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