Record Jobs Created in February, But Unemployment Rises

      March 13, 2014 11:44

      A continued economic recovery seems to have had a positive impact on the job market. Statistics Korea said Wednesday that 24.82 million people were employed as of February, up 835,000 compared to the same period of 2013.

      It was the largest increase for a month in 12 years. January also saw 705,000 more jobs created, setting another 12-year record.

      A total of 148,000 Koreans aged 15-29 found jobs last month, the biggest rise in 14 years for that age group.

      But the low base played a major role in the rise. In February 2013, the number of employed people was at a low due to the Lunar New Year holidays, but this year the holidays fell in January.

      But unemployment still rose 0.5 percentage points to 4.5 percent, the highest since February 2011, and the jobless rate among people aged 15-29 stood at a whopping 10.9 percent compared to 9.1 percent a year ago, the highest for that age group since 2000.

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