Korea’s Jobless Rate Unexpectedly Dips to Lowest Since October

South Korea’s jobless rate unexpectedly fell to the lowest level since October, giving the central bank further incentive to delay a policy pivot.

The seasonally adjusted unemployment rate declined to 2.5% in July from 2.8% a month earlier, the statistics office said Wednesday. Economists surveyed by Bloomberg had forecast the figure would edge higher to 2.9%.