S. Korea's jobless claims grow in double digits in February

0 Comment(s)Print E-mail Xinhua, March 13, 2023
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SEOUL, March 13 (Xinhua) -- South Korea's jobless claims grew in double digits last month amid rising worry about an economic slump, a government report showed Monday.

The number of new applicants for job-seeking benefits was 108,000 in February, up 14.0 percent from a year earlier, according to the Ministry of Employment and Labor.

The number rebounded this year on the back of mounting concerns about the domestic economic downturn, driven by the continued export fall and the rapid interest rate hikes.

The applicants for the benefits mainly increased in the manufacturing, construction, wholesale and retail industries.

The job-seeking benefits are offered by the government to help the unemployed seek jobs, taking up a majority of unemployment benefits. It is financed by the state employment insurance fund.

The number of benefit receivers totaled 618,000 in February, up 1.8 percent from a year earlier.

The total payment of job-seeking benefits increased 0.9 percent to 886.1 billion won (680.5 million U.S. dollars) last month.

The per-capita payment reduced 0.9 percent to about 1.43 million won (1,100 dollars) in the cited month. Enditem

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