Korea's six-month jobless rate hits 13-year high
Visitors at an employment consulting center for young adults in Jung-gu, Seoul, June 15 / Yonhap
By Ko Dong-hwan
The number of people jobless for more than six months has reached a 13-year high.
Of some 1,000,300 jobseekers in Korea, over 120,000, or 11.96 percent, have not worked for six months or longer, according to Statistics Korea. It is the highest figure since 2004 when it was 13.57 percent.
Being out of work briefly can occur in any competitive job market, but long-term joblessness is considered an anomaly.
Statistics Korea said companies have been reluctant to hire because of uncertain economic prospects despite national growth from early this year.
The jobless rate has increased since November 2014, except for last October when it dropped 0.07 of a percentage point.