By Bae Keun-min
Staff reporter
Youth unemployment rose to 8 percent in November for the first time in eight months as college students, who will graduate in February, entered the job market.
The National Statistical Office (NSO) reported on Thursday the number of unemployed youths, aged between 15-29, reached 394,000, accounting for 49.7 percent of all of the unemployed.
The overall jobless rate inched up 0.1 percentage point to 3.4 percent, rising for the second month. The rate was 0.6 percentage point higher than that for November 2002.
The number of people out of work totaled 792,000 in November, up 27,000, or 3.5 percent, from October and up 144,000, or 22.2 percent, from a year ago. The increase is the highest since Mar. 1999, when it surged 22.6 percent over 1998.
The jobless rate stood at 3.7 percent in November after adjusting for seasonal factors.
By gender, the female unemployment rate rose 0.3 percentage point to 3.2 percent in November over October, hitting an eight-month high, while the male rate stayed at 3.6 percent.
The number of women out of work reached 306,000, up 11.7 percent or 32,000 last month, while the number of unemployed males edged down 1.2 percent to 486,000.
A total of 22.42 million were in employment last month, down 27,000 or 0.1 percent from October but up 36,000 or 0.2 percent over a year ago. It is the first time in eight months that the economically active population has increased.
By age, the unemployment rates for people in their 40s, and those aged 60 and above rose 0.1 percentage point to 2.1 percent and 1 percent, respectively, with 131,000 and 23,000 out of work.
The figures for people in their 30s and 50s, however, edged down 0.2 percentage point to 2.9 percent and 1.7 percent, respectively, with 187,000 and 57,000 out of work.
According to the Organization for Economic Cooperation and Development standards, the overall unemployment rate stood at 3.6 percent last month, up 0.2 percentage point from October, with 826,000 out of work, up from 801,000.
kenbae@koreatimes.co.kr
