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south korea jobless rate falls august

SEOUL : South Korea 's unemployment rate fell in August from the previous month, official figures showed Wednesday.

Published September 21, 2011 Updated September 21, 2011 05:41am

1 min

By Shoaib Ur Rehman

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The rate was 3.0 percent compared with 3.3 percent in July, Statistics Korea said. The number of people with jobs rose by 490,000 from a year earlier to 24.5 million, compared with a 335,000 rise in July.

Finance Minister Bahk Jae-Wan said the data indicates the country's strong fundamentals, but stressed the need for global cooperation to ease market fears arising from US and eurozone woes.

"Korea will show leadership in resolving global issues," he said, referring to the Group of 20 finance ministers' meeting in the US later this week.

"We will also hold bilateral talks with key countries like the US and China and meet with global credit rating agencies to strengthen our capacity to respond to crises and prevent unnecessary misconceptions about our economy."

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