International news 11:46 am 2024-04-08
South Korea’s Ministry of Employment and Labor released data today (April 8) that the number of people applying for unemployment benefits in South Korea in March fell. This is due to a reduction in demand in the education services, manufacturing, and wholesale and retail trade sectors.
The information indicates that the number of applicants for new job benefits in March was 130,800, down 9.1% year on year.
The number continued to fall for the second month in a row, after falling into the tens of figures a month earlier.
Claims for benefits fell in the wholesale and retail trade, manufacturing and educational services industries. But the numbers are in the financial and insurance sectors and the information and communication sector rose last month.
Xinhua news agency said that Job search benefits are provided by the government to help unemployed people find new jobs. It is considered an important part of unemployment benefits. and the State Employment Insurance Fund is the one that allocates the said amount.
Claimants for benefits in March totaled 654,600, down 3.0%, marking the first decline in 14 months.
Job search benefit payments in March totaled 969.6 billion won (about 716.7 million US dollars), down 6.2 percent from the same period last year.
By InfoQuest News Agency (08 April 2024)
Tags: unemployment benefits , South Korea
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