Shows that a change of Government is good for the people, the economy, and the country.
http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_564831.html
Aug 11, 2010
SKorea firms adds 658k jobs
SEOUL - SOUTH Korea added the most number of private sector jobs in eight years in July, reinforcing views of a sustained recovery in domestic demand and another interest rates increase next month.
The number of private sector jobs in Asia's fourth-largest economy in July were 658,000 higher than the same month in 2009, the most since April 2002 and more than offsetting jobs lost in the public sector due to fading stimulus spending, data showed on Wednesday.
Analysts said chances of a surprise rate increase by the Bank of Korea on Thursday had decreased following the US Federal Reserve's somber economic assessment but BOK was likely to raise rates in September to keep inflation expectations in check.
The Statistics Korea data showed the unemployment rate rose to a seasonally adjusted 3.7 per cent in July from 3.5 per cent in June because an an increase in the number of people joining the search for jobs on optimism about the economic prospects. That was still well below a 10-year high of 4.8 per cent set in January.
The public sector shed 185,000 jobs in July over a year earlier after letting go 141,000 workers in June as the government withdrew most of the stimulus programmes adopted during the 2007-2008 global financial crisis.
The Ministry of Strategy and Finance said in a statement the country's job market would continue to post solid growth in August, with the number of South Koreans in employment set to grow by close to 400,000 over a year earlier. -- REUTERS.
http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_564831.html
Aug 11, 2010
SKorea firms adds 658k jobs
SEOUL - SOUTH Korea added the most number of private sector jobs in eight years in July, reinforcing views of a sustained recovery in domestic demand and another interest rates increase next month.
The number of private sector jobs in Asia's fourth-largest economy in July were 658,000 higher than the same month in 2009, the most since April 2002 and more than offsetting jobs lost in the public sector due to fading stimulus spending, data showed on Wednesday.
Analysts said chances of a surprise rate increase by the Bank of Korea on Thursday had decreased following the US Federal Reserve's somber economic assessment but BOK was likely to raise rates in September to keep inflation expectations in check.
The Statistics Korea data showed the unemployment rate rose to a seasonally adjusted 3.7 per cent in July from 3.5 per cent in June because an an increase in the number of people joining the search for jobs on optimism about the economic prospects. That was still well below a 10-year high of 4.8 per cent set in January.
The public sector shed 185,000 jobs in July over a year earlier after letting go 141,000 workers in June as the government withdrew most of the stimulus programmes adopted during the 2007-2008 global financial crisis.
The Ministry of Strategy and Finance said in a statement the country's job market would continue to post solid growth in August, with the number of South Koreans in employment set to grow by close to 400,000 over a year earlier. -- REUTERS.
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