World Economy

9% S. Korean Youth Jobless

9% S. Korean Youth Jobless9% S. Korean Youth Jobless

South Korea’s youth unemployment came in at 9.7% last month, the highest for the month of May since comparable data began to be collected in 1999, Yonhap reported. The jobless rate for the 15-29 age group has been on a record-breaking streak since February, as economic gloom continues in Asia’s fourth-largest economy. From a month earlier, the youth jobless rate marked a decrease of 0.4 percentage point. Overall unemployment stood at 3.7% in May, compared to 3.9% tallied in April, or 3.8% recorded the same month in 2015.