South Korea's jobless rate fell in May from a month earlier but job creation slowed amid concerns labor market conditions might remain tough for many job seekers, a government report showed Wednesday.
According to the report by Statistics Korea, the jobless rate stood at 3 percent last month, down from the previous month's 3.2 percent. The jobless rate adjusted for inflation, however, edged up to 3.2 percent from April's 3.1 percent.
The pace of job creation decelerated. The report showed that the number of employed people stood at 25.39 million in May, up 265,000 from a year earlier, which is smaller than the 345,000 on-year job creation tallied in April.