Labor market recovery still weak: finance minister

SEOUL, Oct. 21 (Yonhap) -- South Korea's finance minister expressed concern
Wednesday that the nation's labor market could see a slower-than-expected
recovery as the private sector remains reluctant to recruit new workers.
"I am concerned that the labor market is not recovering significantly despite a
steady rebound in economic conditions," Finance Minister Yoon Jeung-hyun said
during a meeting of government officials. "Employment conditions will not likely
return to their pre-crisis level even after the global economy fully recovers."
His downbeat prediction comes after the nation reported that its jobless rate
fell to the lowest level in nine months in September, with 71,000 more jobs
created compared with a year earlier.
Yoon noted that most of the new jobs were generated in the public sector and not
in the private sphere, where companies still remain reluctant to recruit workers
amid continued uncertainty over an economic rebound.
kokobj@yna.co.kr
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