South Korea Continues to See Rising Unemployment and Job Losses
It looks like the Moon administration better hurry up and fire everyone else at Statistics Korea because the job numbers just continue to be dismal:
Anchor: New jobs figures released Wednesday show a bleak situation. Unemployment reached its highest point last month since the Asian financial crisis nearly 20 years ago.
Our Park Jong-hong has this report.Report: The latest figures show South Korea’s jobless rate rose slightly in August to four percent due to a fall in employment in the retail and manufacturing sectors.
Young adults aged 15 to 29 who were out of a job last month stood at ten percent, up six-tenths of a percentage point from the previous year and the highest since 1999.
The number of employed went up by a mere three-thousand compared to August last year to 26-point-nine million.
This increase in jobs last month is the smallest since January 2010, when ten-thousand jobs were cut.
For the second month in a row, the number of newly added jobs has stayed below ten-thousand per month.
An official at Statistics Korea, which compiled the report, said one main reason behind the dismal figures is the struggling business at automakers and shipbuilders which is spilling over to related sectors like retail. [KBS World Radio]
You can read more at the link.
wow, who would believe commie moon’s socialist agenda would ruin the economy?
Normally when something like this happens, you just scapegoat your political opponents in the government and say it’s because they are obstructing your efforts, reforms, etc.
Problem is … the commies obliterated the competition in the local elections with landslide victories everywhere except North Gyeongsang Province. So unfortunately for Moon and his buddies … there ain’t anyone from across the aisle to scapegoat. The blame is going to fall squarely on the commies. As it should.
Not to worry, when KJU takes over all those unemployed can be sent to gulags and other countries for slave labor.