SEOUL (XINHUA) – South Korea’s initial jobless claims fell last month, reflecting the recovery from the COVID-19 pandemic shock, a government report showed yesterday.
The number of those who newly applied for job-seeking benefits was 86,000 in May, down from 111,000 tallied in the same month of last year, according to the Ministry of Employment and Labour.
The number continued to slide this year after recording 212,000 in January, 149,000 in March and 103,000 in April. It was attributable to the recovery from the economic downturn caused by the pandemic. The job-seeking benefits are offered by the government to help the unemployed seek jobs. It is financed by the state employment insurance fund.
The total number of job-seeking benefit receivers was 704,000 in May, keeping a downward trend from 759,000 in March and 739,000 in April each.
The total amount of job-seeking benefit payment stood at KRW1.08 trillion in May, topping KRW1 trillion for the fourth consecutive month.