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S. Korea jobless rate falls in March

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(Globalpost/GlobalPost)

South Korea's unemployment rate fell in March after a number of job seekers left the market for further education or stopped looking for work, state data showed Wednesday.

The seasonally adjusted unemployment rate stood at 3.2 percent in March, compared with 3.5 percent in February and 3.4 percent a year ago, state-run Statistics Korea said.

Unadjusted, the jobless rate was 3.5 percent in March, down from 4.0 percent in February.

The state agency said the number of job seekers in the market fell after more returned to school or gave up looking for work due to old age, household duty or childcare.

The number of so-called "economically inactive" people rose to 16.5 million in March from 16.2 million a year ago.

The jobless rate for those aged 25 to 29 stood at 6.9 percent, compared with 8.0 percent in February and 7.2 percent a year earlier.

The job data came a day before South Korea's central bank holds a policy meeting largely expected to see the first rate cut for six months as it looks to boost Asia's fourth-largest economy.

-- Dow Jones Newswires contributed to this report --

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http://www.globalpost.com/dispatch/news/afp/130409/s-korea-jobless-rate-falls-march