Unemployment Rate Rose to 7.9%
According to the National Statistical Office (NSO) on January 22, the jobless rate in December 1998 recorded 7.9 percent, 0.6 percent higher than the previous month of November.The number of unemployed workers increased by 108,000 people to 1.665 million. This is the highest level since the NSO started compiling statistics for unemployment in July 1982.
The level of unemployment in December was 2.5 times that of December 1997 when only 658,000 were out of a job.
Experts are saying, 'Every year in February when students graduate, the unemployment rate tends to rise to its highest level. Accordingly, for the time being, the rate will gradually continue to rise.'
with the Korea JoongAng Daily
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