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Wednesday 21 September 2016

S.Korea - Number of long-term unemployed rises at fastest pace on record in August: ARIRANG NEWS

Published on Sep 20, 2016
'장기백수' 18만명, 6만명↑…6개월 이상 실업자 증가폭 최대
The number of long-term unemployed is on a sharp rise here in Korea,... further stoking concerns the country is falling into a prolonged period of low growth.

Data from Statistics Korea shows the number of people unemployed for more than six months stood at 182-thousand last month, up 62-thousand from a year earlier.

That marks the fastest on-year rise on record.

Related data was first compiled in June 1999 based on revised standards.

The ratio of long-term unemployed among the overall number of unemployed is also rising rapidly.

The figure came in at over 18 percent last month -- the highest since late 1999... when Korea was struggling to get back on its feet after the 1997 Asian financial crisis.

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