South Korea jobless rate jumps to 9-year peak as minimum wage hike roils labour market

By Cynthia Kim SEOUL (Reuters) - South Korea's unemployment rate jumped to a nine-year high in January as more people shunned low-paying work in the face of rising minimum wages, putting pressure on the economy and deepening policy frustrations for President Moon Jae-in. The unemployment rate rose to 4.4 percent in January in seasonally adjusted terms, the highest since the 4.7 percent rate seen in January 2010, with most of the job losses seen in manufacturing and construction sectors, data from Statistics Korea showed on Wednesday. In December, the jobless rate was 3.8 percent

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