SoKor to implement tighter measures on surging unemployment amid pandemic

15.05.2020 - Kulakov Vladimir
SoKor to implement tighter measures on surging unemployment amid pandemic

South Korea’s finance ministry pledged to provide intensive measures to control the recently-monitored hike in unemployment. The agency also emphasized the ever-increasing level of economic risks as local and global demand collapse.

Latest records showed that the country’s unemployment rate retained its 3.8% standing in April. However, the employment rate dropped at its most rapid pace in more than two decades as pandemic restrictions halted business operations.

Analysts believe that the actual count may be larger than the official figures, with working hours being modified and workers forced to file temporary leave. More so, lockdown restrictions being lifted brought in new fears that the deadly respiratory disease will reemerge.

The government is set to provide 550,000 jobs, helping those who are self-employed and in temporary jobs as latest figures indicated the possibility of a sharp recession.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?