South Korea is scheduled to release March job-market data on 15 April. The seasonally adjusted unemployment rate is expected to have fallen 0.4ppt from February to 3.5%. The February unemployment rate increased to 3.9% (from 3.4% in January) due to a higher number of job seekers. Since Korea’s school graduation and recruiting season fall in Q1, unemployment tends to be high in February, even on a seasonally adjusted basis. The February 2014 rate of 3.9% was the highest recorded in 2014. The number of employed likely increased to 376,000 y/y in March, up from 347,000 in February. “We expect the unemployment rate to return to the mid-3% level and wage growth to reach a similar level, which should boost the number of job seekers”, Says Standard Chartered
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