SEOUL, Oct. 16 (Xinhua) -- Employment in South Korea grew the most in 12 months, boosting expectations that the country's labor market would continue to improve, a government report showed Wednesday.
The total number of people employed increased 463,000 from a year earlier to 25.466 million in September, the highest monthly gain since September 2012 when 685,000 new jobs were created, according to Statistics Korea.
The country's job growth accelerated from 360,000 in June and 367,000 in July to 432,000 in August, topping the 460,000 level last month. The figures breached the government's monthly average target of 300,000 for 2013.
The hiring rate rose 0.4 percentage points from a year earlier to 60.4 percent in September. The employment rate measures the percentage of working people to the working age population, or those aged 15 and over. It is used as an alternative to the jobless rate for assessing labor market conditions.
Jobless rate fell 0.2 percentage point on-year to 2.7 percent last month due to a reduction in those unemployed. The figure gauges the percentage of those unemployed who actively sought jobs over the past four weeks to the economically active population, or the sum of people employed and unemployed.