Jobless Claims in South Korea Increase for 3rd Month in April
The number of new applicants for job-seeking benefits increased 2.0 percent from a year earlier to 103,000 in April, after going up for the past two months, according to the Ministry of Employment and Labor.
The benefit applicants increased in the manufacturing, the construction, the finance and insurance, and the wholesale and retail sectors, but the reading decreased in the public administration and the lodging and eatery segments last month.
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 benefit recipients totaled 702,000 in April, up 6.1 percent from a year earlier.
The total payment of job-seeking benefits climbed 9.7 percent to 1.16 trillion won (826.2 million U.S. dollars) in the cited month.
4155/v
