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South Korea January jobless rate rises to highest in nine years

Reuters  |  SEOUL 

(Reuters) - South Korea's rate rose to a nine-year high in January as jobs were shed in and construction sectors amid rising minimum wages, deepening economic policy frustrations for

The rate rose to 4.4 percent in January in seasonally adjusted terms, from 3.8 percent in December, Statistics Korea said in a report on Wednesday.

That is the labour market's worst performance since January 2010, when the was still reeling from the global financial crisis and the jobless rate reached 4.7 percent.

(Reporting by Cynthia Kim; Editing by Shri Navaratnam)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 04:52 IST