Unemployment benefit claims up 40 percent

SEOUL, Aug 17. (Yonhap) -- The number of South Korean jobless who applied for
unemployment benefit in the first seven months of this year surged 40.3 percent
on-year to 696,000, the Labor Ministry said Monday, indicating a protracted slump
in the local job market.
In the same period between 2007 and 2008, the growth rate for unemployment
benefit claims stood at 16.9 percent, the ministry noted.
"The number of unemployed is rising steadily due to the protracted economic
slump, resulting in the increase in applications for unemployment benefits," said
a ministry official.
He explained that the number of people eligible for the benefits after working
longer than six months but losing their jobs involuntarily surpassed the one
million mark, but only 64.5 percent of them applied for the benefits.
Once qualified, they receive 50 percent of their average salaries for 90 to 240
days.
ejkim@yna.co.kr
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