The joblessness rate in South Korea increased to its greatest level for one year in February. The unemployed figure rose to 4 percent in February, from 3.6 percent the earlier month, based on the latest data from the statistics department.
New jobs in the manufacturing division failed to balance declines in the number of jobs in retail, trade and agriculture sector. Asia's 4th biggest economy added 233,000 jobs in the month of February. Nevertheless, the total labor force grew by 341,000 pushing the joblessness rate up.
South Korea has been going through a period of recuperation, but there are worries about increasing inflation. The government of South Korea has cited job generation as its top priority as it struggles for sustained growth.
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