South Korea January jobs fall at sharpest pace in more than two decades

FILE PHOTO: Two large container ships and a tanker can be seen in construction in a ship yard close to Busan
FILE PHOTO: Two large container ships and a tanker can be seen under construction in a ship yard close to Busan, South Korea October 25, 2017. Picture taken October 25, 2017. REUTERS/Henning Gloystein

February 10, 2021

SEOUL (Reuters) – South Korea’s unemployment rate soared to a 21-year high in January, while the number of people employed fell at the sharpest pace in more than two decades, government data showed on Wednesday.

The seasonally adjusted unemployment rate jumped to 5.4% in January, the highest since 1999, data from the Statistics Korea showed.

(Reporting by Cynthia Kim; Editing by Leslie Adler)