South Korea's Unemployment Rate Climbs From Lowest Level in Three Months

[NNN0LHI]

http://www.bloomberg.com/news/2010-10-19/south-korea-s-unemployment-rate-climbs-from-lowest-level-in-three-months.html

By Eunkyung Seo and William Sim - Oct 19, 2010 9:47 PM CT

South Korea’s unemployment rate climbed in September from a three-month low as jobs in the agricultural, retail and restaurant sectors declined.

The jobless rate rose to 3.7 percent from 3.4 percent in August, Statistics Korea said in Gwacheon today, citing seasonally adjusted figures. The rate hit a 10-year high of 4.8 percent in January.

[rpannier]

1. If you look at how employment, underemployment and unemployment work in this country

Those numbers paint a rather bleak picture

[denem]

2. South Korea has zero welfare.

Men have been know to commit suicide after losing their job. Korea is suffering from a rising currency against the dollar while China keeps it's exchange rate fixed.