S. Korea's jobless claims rebound in October
South Korea's jobless claims rebounded in three months due to stronger demand in the construction, wholesale and retail, and manufacturing industries, government data showed Monday.
The number of new applicants for job-seeking benefits stood at 89,000 in October, up 12.4 percent compared with the same month of last year, according to the Ministry of Employment and Labor.
It turned around after going down 0.6 percent in August and 1.0 percent in September amid lingering worry about economic slump.
The benefit applicants increased in the construction, wholesale and retail, manufacturing, and information and communication industries, but the reading in the public administration and the education service sectors shrank last month.
The job-seeking benefits are offered by the government to help the unemployed seek jobs, taking up a majority of unemployment benefits. It is financed by the state employment insurance fund.
The number of benefit receivers totaled 587,000 in October, up 3.7 percent from a year earlier.
The total payment of job-seeking benefits grew 9.9 percent to 1 trillion won (715.6 million US dollars) in the cited month.