Number of unemployment benefit applicants hits one-year low

SEOUL, Nov. 2 (Yonhap) -- The number of applicants for unemployment benefits hit
a one-year low in October at 67,000, the Labor Ministry said Monday, a possible
sign of a turnaround in the job market.
The ministry data showed the October figure down 47.7 percent from 128,000 of
January, the peak month so far this year. The number of applicants has since
steadily declined.
Total benefit payments dropped by 10.8 percent to 315 billion won (US$264
million) in October from 353.3 billion won in September. It is 22.4 percent lower
from April when the amount of payments peaked at 405.8 billion won.
"The number of unemployment benefit claims hit a one-year low due to the recent
economic recovery and companies' slowing pace of job cuts," said a ministry
official.
Meanwhile, the number of job seekers increased to 181,000 in October from 170,000
of the previous month, while job openings also rose to 123,000, up by 3,000 from
September, according to the ministry.
brk@yna.co.kr
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