SEOUL, KOREA - Although the number of the employed has increased for five consecutive months, the ratio of youth unemployment has risen more than that attained last year.

 

According to the Korea Statistical Office on November 13 in a report "October 2013 Employment Trend," the number of the employed in October was 25,545,000, up 476,000 from the same month in 2012. The year-on-year growth rate of 1.9 percent is the highest level since September last year when the figure was 685,000.

 

The number of new jobs created has clearly risen after hitting the bottom at 201,000 in February this year and gaining steadily since then. Especially the rising trend has become visible since May when the new jobs number was 265,000, followed by 360,000, 367,000, 432,000, and 463,000 from June and September.

 

In contrast, however, the unemployment rate for youths in their age between 15 and 29 for the month of October was 7.8 percent, up 0.9 percentage point from a year ago. That implies a rise in the overall jobs number has not been translated into fewer unemployed youths.