BUSAN < invest Korea

(BUSAN = Newsis) Unemployment of Busan region dropped to around 2 percent for the first time in 11 years.

Dongnam Regional Statistics Office announced that the city recorded 2.9 percent of unemployment rate, fell by 1.1 percent compared with the same period in 2012.

It is the first time in 11 years and three months since June in 2002 that the city posted less than 3 percent of unemployment rate.

Last month, the number of the unemployed in last December was roughly 49,000, dropped by 20,000 (-28.3 percent) compared with the same period in 2012.

In December 2013, the number of the employed fell by 8,000 (-0.5 percent) compared to the figure in December of 2012, and the employment rate for the period fell by 0.5 percent to 55.2 percent.

The unemployment of the fourth quarter of Busan region in 2012, on the other hand, fell by 0.8 percent to 3.2 percent, and the number of the unemployed also dropped by 14,000 (-20.5 percent) to 54,000.

The region’s number of the employed rose by 8,000 (0.5 percent) to 1,640,000.

yulnetphoto@newsis.com

Source Text

Source: Newsis (Jan. 15, 2014)

** This article was translated from the Korean.