In South Korea, applications for unemployment benefits decrease by 13.3 percent

In the Republic of Korea, the number of applications for unemployment benefits decreased by 13.3 percent in February, Azernews reports, citing foreign countries.

South Korean Ministry of Employment and Labor noted that the number of new applications for unemployment benefits in February amounted to 93.2 thousand, which is 13.3 percent less than in the same period last year.

Although the number of applications decreased compared to the previous month in the field of wholesale and retail sales, manufacturing and educational services, it increased in the information and communication sector. Benefits funded by the State Employment Insurance Fund are offered by the Government to help the unemployed find work and cover most of the unemployment benefits.

According to statistics, the number of people receiving unemployment benefits in February amounted to 625.5 thousand people, which is 1.1 percent more than a year ago. The total amount of payments to job seekers increased by 8.5 percent and reached $ 731.4 million.