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2023.07.1207:24:00UTC+00South Korea Jobless Rate Rises Unexpectedly To 2.6%

South Korea's unemployment rate increased unexpectedly in June, though marginally, data from Statistics Korea showed on Wednesday.

The unemployment rate rose to a seasonally adjusted 2.6 percent in June from 2.5 percent in May. Meanwhile, economists had expected the rate to remain stable at 2.5 percent.

In the same month last year, the unemployment rate was 2.9 percent.

On an unadjusted basis, the jobless rate held steady at 2.7 percent at the end of the second quarter.

The number of unemployed people rose to 807,000 in June from 787,000 in the previous month.

At the same time, the number of employed people increased by 33,000 year-on-year to 28.812 million in June.

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