S. Korea’s jobless claims rise 8.5 pct in March

South Korea’s jobless claims rose in single digit last month amid growing worry about economic slowdown, labor ministry data showed Monday.The number of new applicants for job-seeking benefits was 144,000 in March, up 8.5 percent from the same month of last year, according to the country’s Ministry of Employment and Labor.
It was down from an increase of 14 percent in February, but the number rebounded this year on mounting worry about the domestic economic downturn, driven by continued export fall and faltering housing market. The benefit applicants mainly increased in the manufacturing, the construction and the education service sectors.
The job-seeking benefits are offered by the government to help the unemployed seek jobs, taking up a majority of unemployment benefits. It is financed by the state employment insurance fund.The number of the benefit receivers totaled 675,000 in March, up 1 percent from a year earlier. It kept an upward trend for the second straight month.
The total payment of job-seeking benefits expanded 3 percent to 1.03 trillion won (780.3 million U.S. dollars) last month. The per-capita payment gained 1.9 percent to about 1.53 million won (1,160 dollars) in the cited month.









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