Unemployment Among Middle-Aged People Rises in Q2

  • Arirang News

    December 04, 2018 09:17

    Unemployment among middle-aged people rose sharply in the second quarter.

    According to Statistics Korea, the jobless rate in the second quarter for people aged 55 to 64 was 2.9 percent, up 0.4 percentage point on-year, surpassing that of the U.S. for the first time in almost 20 years. The figure for the U.S. was 2.7 percent.

    Generally, countries with a bigger working-age population, like the U.S., tend to have a higher unemployment rate.

    Analysts attribute the rise to the overall economic slowdown in Korea and an increase in the number of economically active older people.

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