South Korea's jobless rate falls to 3.0 percent

South Korea's overall unemployment rate fell to its lowest level in more than five years in October, despite a rise in the number of young people out of work, official figures showed.

The seasonally-adjusted jobless rate of 3.0 percent, down from 3.1 percent in September, was the lowest since February 2008, according to Statistics Korea.

The unadjusted jobless rate fell to 2.8 percent in October from 2.9 percent in September.

But the number of unemployed under the age of 29 rose to 6.9 percent from 6.7 percent in September and the same 6.7 percent in October last year.

The number of people employed rose 396,000 in October from a year ago to 25.07 million.

The manufacturing sector led the growth by creating 144,000 new jobs last month.

-- Dow Jones Newswires contributed to this report --

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