South Korea’s Jobless Rate Hits 3-1/2 Year High

SEOUL (Reuters) – South Korea’s jobless rate jumped to the highest in 3-1/2 years in December, as economic uncertainty heightened and sentiment dampened amid political turmoil, official data showed on Wednesday.

The unemployment rate rose in December to 3.7% on a seasonally adjusted basis, the highest since June 2021 and sharply up from 2.7% in November, according to Statistics Korea.

The number of employed people fell by 52,000 over the 12 months to December, after a gain of 123,000 in November. It was the first fall since February 2021.