(LEAD) S. Korea's Nov. jobless rate rises to 3.3 pct

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SEOUL, Dec. 16 (Yonhap) -- South Korea's jobless rate rose in November despite
growing signs the economy is making a faster-than-expected recovery, a government
report showed Wednesday.

The jobless rate stood at 3.3 percent last month, up from 3.2 percent the
previous month, according to the report by Statistics Korea. The figure marks the
first rise after the rate fell to an 11-month low in October.
The number of employed people totaled 23.8 million last month, down 10,000 from a
year earlier. The on-year job contraction comes after three consecutive months of
increases, the report showed.
"The job increases over the past few months were mainly attributed to
government-led efforts to offer jobs in the public sector," said Jeon Min-kyu, an
economist at Korea Investment & Securities Co.
"Though economic conditions show signs of a rebound, companies might remain
hesitant for some time as they are not sure about a robust recovery down the
road," he added.
The jobless data came despite growing signs that South Korea's economy is fast
rebounding from a steep downturn with many indicators returning to pre-crisis
levels.
The finance ministry earlier said that the economy will likely grow 0.2 percent
this year before expanding 5 percent next year, sharply revising upward its
previous growth projections. It earlier predicted a contraction for this year.
Industrial output is rebounding, with exports rising and consumption showing
signs of picking up, all of which are supporting the government's rosy picture
for economic conditions next year.
Job creation, however, tops the government's work list for the new year as
stagnant employment might lead to sluggish domestic consumption at a time when
external market conditions remain bleak for many exporters.
In its economy management plan unveiled on Dec. 12, the government said that it
will establish a so-called "national employment strategy meeting" every month to
discuss ways to create jobs. It will also continue to provide work in the public
sector to ease the nation's frozen employment conditions.
The government says that it will stick to its expansionary fiscal policy for the
time being, while the nation's central bank kept its key interest rate at a
record low of 2 percent for 10th straight month last week.
kokobj@yna.co.kr
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