Number of 'actual' unemployed surges last year

SEOUL, Jan. 6 (Yonhap) -- The number of people "actually" out of work and not
counted in official jobless figures in South Korea surged last year from a year
earlier amid a protracted economic slump, data showed Wednesday.

According to the data provided by Statistics Korea and private economic think
tanks, the number of de facto unemployed people here totaled 3.3 million at the
end of November last year, up 12.5 percent from 2.9 million a year earlier.
The data included those in job training programs, economically inactive senior
citizens and people working less than 18 hours a week, all of whom are not
currently reflected in the government's official jobless data, which counts only
those willing to work but are unable to land a job. The official jobless number
totaled 819,000 as of November.
Based on the data, the actual unemployment rate rose to 12.6 percent from 11.3
percent the previous year, far higher than the nation's official jobless rate of
3.3 percent.
The unofficial figure is the highest ever since related data started to be
compiled in 2003, when the corresponding figure stood at 2.63 million in
November, according to the statistics agency.
The increase is largely attributed to a protracted economic slump and frozen
corporate sentiment, which results in businesses trimming investment and shunning
recruitment for fear of cloudy performance forecasts, analysts say.
The job market remains sluggish despite the nation's faster-than-expected rebound
from the worst global recession in decades.
The government has forecast that gross domestic product will expand 5 percent
this year after growing a mere 0.2 percent last year. It has placed top priority
on reviving the economy and creating more jobs this year.
Experts are concerned that the slump in the nation's job market could continue
for some time as a recovery in employment figures usually lags behind an economic
rebound.
kokobj@yna.co.kr
(END)