South Korea’s unemployment rate hits record high in August

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SEOUL — South Korea’s unemployment rate fell to a record low in August, while the number of employed people rose for an 18th consecutive month, government data showed on Friday.

The country’s seasonally adjusted unemployment rate for August fell to 2.5% from 2.9% in July, hitting the lowest since data began to be released in June 1999, according to Statistics Korea.

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The number of people employed rose by 807,000 from the same month a year earlier, extending the year-on-year gains to an 18th consecutive month. (Reporting by Jihoon Lee; Editing by Jacqueline Wong)