Korea unemployment clicks down to 3% in October

More full-time positions available, notably in manufacturing.

According to BBVA, Korea’s unemployment rate fell to a seasonally adjusted 3.0% (consensus: 3.1%) in October from 3.1% in September. Gains in employment were driven by a healthy increase in full time positions, which are up 4.7% from last year.

By category, manufacturing jobs are up 3.6% over-year even as exports and production have slowed. The outturn underscores how robust Asian labor markets have been, even in the midst of the weak global environment.

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