S. Korea adds 469,000 jobs in March

▲ A jobseeker takes a photo of a notice board at a welfare center in western Seoul, in this file photo taken March 15, 2023. (Yonhap)

jobless rate-March

S. Korea adds 469,000 jobs in March

SEOUL, April 12 (Yonhap) -- South Korea's job additions expanded at a faster pace in March compared with the previous month, data showed Wednesday, amid concerns that the labor market will gradually feel the impact of an economic slowdown.

The number of employed people came to 28.22 million in March, up around 469,000 from a year earlier, according to the data compiled by Statistics Korea.

South Korea's monthly job additions had been slowing for nine consecutive months through February.

In March, South Korea's jobless rate edged down 0.1 percentage point on-year to 2.9 percent, the data also showed.

On Tuesday, South Korea's central bank held its key interest rate steady at 3.5 percent for the second straight time as inflation appears to be easing and concerns are rising over an economic slowdown.

A hike in borrowing costs typically weighs down employment as businesses and households cut their spending.

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