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SEOUL: South Korea's unemployment rate rose slightly in November despite signs that the economy is recovering quickly from the global slump, official figures showed on Wednesday.
The jobless rate stood at 3.3 per cent last month, up from 3.2 per cent the previous month which was an 11-month low, according to Statistics Korea.
The number of employed people totalled 23.8 million last month, down 10,000 from a year earlier. The year-on-year job contraction comes after three consecutive months of increases.
The finance ministry said job creation is its top priority for 2010 and South Korea will keep stimulus measures in place in the near term to boost economic recovery.
"The measures temporarily introduced to help survive the crisis will be withdrawn steadily so as not to cause a sudden impact," the ministry said in its plan for 2010 submitted to President Lee Myung-Bak.
Asia's fourth largest economy has made one of the quickest recoveries from the global slump thanks in part to stimulus packages, but policymakers have been cautious in withdrawing the measures.
Next year's policy will focus on survival of the economic crisis and laying the groundwork for future growth, the ministry said, describing job creation as its top priority.
Companies have been cutting recruitment for fear business conditions could worsen again but efforts to create jobs in the public sector have helped ease the situation.
The ministry said it will continue to offer new posts in the public sector until the end of the first half of 2010. Efforts will be made to provide positions to young people, senior citizens, women and others having difficulty finding employment.
To strengthen long-term growth potential, it promised to encourage corporate investment by cutting through red tape hampering start-ups.
A 3.5 trillion won (3.0 billion dollar) fund will be established to help small firms in the technology and green business sectors.
The ministry predicted last week the economy would grow 0.2 per cent this year and five per cent next year, higher than its earlier projections.
The International Monetary Fund, in its latest estimate, raised its forecast to 0.25 per cent growth this year with an expansion of 4.5 per cent in 2010.
- AFP/so
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