Lower jobs growth for S. Korea

Not-so-nice figures: Moon has seen his popularity slide amid criticism that he’s hurting employment by aggressively increasing the minimum wage. — AP

SEOUL: Unemployment and jobs growth in South Korea haven’t looked so bad since the wake of the global financial crisis, undermining President Moon Jae-in’s economic agenda.

Data released yesterday showed the unemployment rate jumping to 4.2%, the highest since early 2010, and much greater than any economist’s forecast. Jobs growth slumped to just 3,000 last month, also the worst figure in more than eight years.