South Korea’s unemployment rate hits record high in August

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SEOUL: South Korea’s unemployment rate fell to an all-time high in August, government data showed Wednesday, suggesting the economy was continuing to recover from the coronavirus pandemic, even as it struggles to contain the latest wave of viruses.

The seasonally adjusted unemployment rate in August was 2.8%, according to Statistics Korea data, the lowest since data began to be released in June 1999 and down from 3.3% in July. .

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There were 518,000 jobs added last month, up from 542,000 a month earlier.

(Reporting by Joori Roh; editing by Christian Schmollinger)

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