South Korea's Jobless Claims Rise 7.2 Percent in August
The number of new applicants for job-seeking benefits stood at 87,000 in August, up 7.2 percent from a year earlier, according to the Ministry of Employment and Labor.
The number rebounded this year on the mounting concerns about the economic slowdown, driven by the continued export fall and the faltering housing market.
The benefit applicants expanded in the manufacturing, the construction and the education services industries.
The job-seeking benefits are offered by the government to help the unemployed seek jobs, taking up a majority of unemployment benefits. It is financed by the state employment insurance fund.
The number of the benefit receivers totaled 627,000 in August, up 4.1 percent from a year earlier. It kept an upward trend for the seventh straight month since February.
The total payment of job-seeking benefits gained 6.3 percent to 1.05 trillion won (788.9 million U.S. dollars) in the cited month.
The per-capita payment added 2.1 percent to 1,670,000 won (1,250 dollars) last month.
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