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South Korea’s August jobless rate falls to record low

SEOUL — South Korea’s August unemployment rate fell to the lowest on record, government data showed on Wednesday, suggesting that the economy continued to recover from the coronavirus pandemic, even as it struggles to contain the latest wave of infections.The seasonally adjusted unemployment rate in August dropped to 2.8%, Statistics Korea data showed, the lowest…

SEOUL — South Korea’s August unemployment rate fell to the lowest on record, government data showed on Wednesday, suggesting that the economy continued to recover from the coronavirus pandemic, even as it struggles to contain the latest wave of infections.

The seasonally adjusted unemployment rate in August dropped to 2.8%, Statistics Korea data showed, the lowest since data releases began in June 1999 and the third straight month of decline. The rate stood at 3.3% in July.

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The number of employed increased by 518,000 from a year earlier, after 542,000 jobs were added in July.

The breakdown of August data showed jobs were mostly added in healthcare and social services, construction, and transportation and warehouses.

Those at retailers, however, continued to slump, losing 113,000 jobs from a year earlier, and there were 38,000 less jobs in acco

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