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KOREAN JOBLESS TO TOP 1 MLN AGAIN: PRIVATE ECONOMIC INSTITUTES.
SEOUL, Jan 2 Asia Pulse - The number of jobless this year is likely to exceed one million, making unemployment more difficult to manage than last year, private economic research institutes said Tuesday.
The government is hoping to manage unemployment at 3 percent, but many economic institutes project it will exceed 4 percent.
The employment situation will grow worse due to sluggish economic conditions in the first quarter and seasonal factors associated with winter.
The number of the jobless will increase due to the second round of financial and corporate restructuring coupled with the economic downturn, they said.
The LG Economic Research Institute estimated the number of jobless will exceed one million but could reach as many as 1.2 million depending on the economic downturn and the progress of restructuring in a number of key sectors, including finance, corporate and public sectors.
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Source: HighBeam Research, KOREAN JOBLESS TO TOP 1 MLN AGAIN: PRIVATE ECONOMIC INSTITUTES.