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S Korea unemployment inches down in July

South Korea's unemployment rate edged down in July from a month earlier as new jobs were created across a range of sectors, government data said on Wednesday (Aug 13).

SEOUL: South Korea's unemployment rate edged down in July from a month earlier as new jobs were created across a range of sectors, government data said on Wednesday (Aug 13).

The seasonally adjusted jobless rate fell to 3.4 per cent from the previous month's 3.6 per cent, Statistics Korea said. The number of newly created jobs showed an on-year rise of 505,000, compared to 398,000 in June and well above the monthly average for 2013. "The number of new jobs is on the increase, as wholesale and retail businesses are improving and manufacturing continues to perform well," senior Statistics Korea official Kong Mi-suk told journalists.

The tough employment market for young job seekers improved slightly, with the jobless rate for those aged 15 to 29 standing at 8.9 per cent in July, compared to 9.5 per cent in June.