12 Jan '11, 3am

South Korea economy posts strong jobs growth

SEOUL: South Korea's economy added jobs in December at the fastest rate for seven months as manufacturers boosted hiring amid strong exports, official figures showed on Wednesday. The number of employed people stood at 23.68 million last month, up 455,000 from a year earlier. It was the largest year-on-year increase in jobs since 586,000 in May. The unemployment rate of 3.5 per cent last month was unchanged from December 2009 but up from three per cent in November 2010, Statistics Korea said, amid reduced construction work due to cold weather and heavy snow. "Hiring remained robust in non-public sectors, helped by brisk industrial production and exports," its report said. "The manufacturing, health, social welfare, facility maintenance and construction sectors saw continued job growth." For the whole of 2010, the jobless rate edged up to 3.7 per cent from the previous year...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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