SEOUL—South Korea’s August unemployment rate fell to the lowest on record, suggesting the economic recovery from the COVID-19 pandemic was on track, though a breakdown of data showed labour conditions in the key manufacturing sector remained weak.
The seasonally adjusted unemployment rate in August dropped to 2.8 percent, Statistics Korea data showed on Wednesday, the lowest since data releases began in June 1999 and the third straight month of decline. The rate stood at 3.3 percent in July.
