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South Korea Jobless Rate Remains Low in Sign of Resilience

  • Unemployment rate stays unchanged at 2.8% in October
  • Increase in jobs remains strong but its pace is slowing
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South Korea’s unemployment rate remained low in October, suggesting the labor market is holding up in the face of rising interest rates.

The jobless rate stayed unchanged at 2.8%, the statistics office said Wednesday. Economists had expected it to slightly rise to 2.9%. The economy added 677,000 positions from a year earlier.