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October jobless rate expected to edge higher from September

2017/11/11 09:00

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SEOUL, Nov. 11 (Yonhap) -- South Korea's jobless rate is expected to have reached 3.7 percent in October, compared to 3.4 percent a month earlier, according to a forecast by credit appraiser Moody's Investors Services on Saturday.

However, the unemployment rate is down from 4 percent tallied in April, Moody's said in a report.

September's unemployment rate declined 0.2 percentage point from the same month last year.

Falling unemployment may help lift consumer confidence with the economy showing signs of modest recovery at a time when the Bank of Korea is hinting at a rate hike.

Statistics Korea plans to release the October employment data Tuesday.