In South Korea, Applications For Unemployment Benefits Decrease By 13.3 Percent
Date
3/11/2024 3:10:36 PM
(MENAFN- AzerNews) In the Republic of Korea, the number of applications for
unemployment benefits decreased by 13.3 percent in February, Azernews reports, citing foreign countries.
South Korean Ministry of Employment and labor noted that the
number of new applications for unemployment benefits in February
amounted to 93.2 thousand, which is 13.3 percent less than in the
same period last year.
Although the number of applications decreased compared to the
previous month in the field of wholesale and retail sales,
manufacturing and educational services, it increased in the
information and communication sector. Benefits funded by the State
Employment Insurance Fund are offered by the Government to help the
unemployed find work and cover most of the unemployment
benefits.
According to statistics, the number of people receiving
unemployment benefits in February amounted to 625.5 thousand
people, which is 1.1 percent more than a year ago. The total amount
of payments to job seekers increased by 8.5 percent and reached $
731.4 million.
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