(MENAFN- Qatar News Agency) South Korea's youth jobless rate surged to an all-time high of 12.5% in February, a government report said Wednesday, underlying the growing number of college graduates failing to land jobs due to the sluggish economy.
Statistics Korea said the nation's overall jobless rate stood at a six-year high of 4.9% last month, up from 3.7% in January. The February reading also marks a 0.4 percentage point rise from the year before, the agency said in its monthly job market report.
The agency noted that a total of 560,000 people aged between 15 and 29 remained out of work last month, pushing up their unemployment rate to a record high of 12.5%, up sharply from 9.5% tallied a month earlier, according to South Korea's (Yonhap) News Agency.
The number of employed people reached 25.41 million last month, with 223,000 new jobs being created compared with the year before, the report showed. The February job growth was the lowest in 12 months.
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