South Korea’s unemployment rate decreased unexpectedly in October, albeit slightly, figures from Statistics Korea showed Wednesday.
The seasonally adjusted unemployment rate fell to 3.4 percent in October from 3.5 percent in September. Economists had expected the jobless rate to remain stable at 3.5 percent.
In the corresponding month of the previous year, the unemployment rate was also 3.5 percent.
On an unadjusted basis, the unemployment rate came in at 3.1 percent in October, down from 3.2 percent in the prior month.
The number of unemployed people dropped to 839,000 in October from 866,000 in the preceding month. A year ago, the jobless figure totaled 858,000.
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