Korean Jobless Rate Hits a 19 Year High

Something to keep in mind that these jobless numbers have probably been modified as much as possible to make it not look as bad since President Moon fired the prior head of Statistics Korea and replaced her with an ally. The actual jobless is probably far worse:

Over 1.24 million people remained jobless in April, the highest in 19 years, a clear indication of the tightening job market amid an economic slowdown here, government data showed Wednesday. 

Statistics Korea said the number of jobless stood at 1,245,000, up 84,000 from a year earlier and the highest number since June 1999 when the agency began compiling related data. 

The jobless rate also jumped to 4.4 percent in April, up 0.3 percentage points year-on-year, the highest since 2000 when it stood at 4.5 percent. 

The rate for those aged between 15 and 29 reached 11.5 percent, up 0.8 percentage points from a year earlier, also the highest since April 2000. 

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