Unemployment among middle-aged South Koreans rose in Q2: Data
- 5 years ago
The unemployment rate for middle-aged people in South Korea rose sharply in the second quarter... to surpass that of the United States for the first time in almost 20 years.
According to the OECD and Statistics Korea, the jobless rate in Q-2 for people aged 55 to 64 came to 2-point-9 percent, up 0-point-4 percentage points on year.
This is higher than the figure for the U.S., which was 2-point-7 percent.
Generally, countries with a bigger working-age population, like the U.S., tend to have a higher unemployment rate.
Analysts attribute the rise to the overall economic slowdown in Korea... and an increase in the number of economically active... older people.
According to the OECD and Statistics Korea, the jobless rate in Q-2 for people aged 55 to 64 came to 2-point-9 percent, up 0-point-4 percentage points on year.
This is higher than the figure for the U.S., which was 2-point-7 percent.
Generally, countries with a bigger working-age population, like the U.S., tend to have a higher unemployment rate.
Analysts attribute the rise to the overall economic slowdown in Korea... and an increase in the number of economically active... older people.