South Korea jobless rate hits highest since global financial crisis, adds to president’s woes


SEOUL: South Korea’s unemployment rate rose to an eight-year high in August as mandatory minimum wages rose, worsening economic policy frustrations for President Moon Jae-in whose approval rating is now at its lowest since inauguration.

The unemployment rate rose to 4.2 per cent in August from 3.8 per cent in July in seasonally adjusted terms as the number of unemployed rose by 134,000 people from a year earlier.

This was the labour market’s worst performance since January 2010, when the economy was still reeling from the global financial crisis, when…



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