South Korea's unemployment rate declined to 3.4% in October the lowest in nine months compared with 3.6% in September. The Korean economy is recovering from recession and it was one of few major economies that managed to avoid technical recession backed by the government's stimulus plan of 67 billion won.

Economic sectors are improving especially the manufacturing sector that supported the economy to expand in the third quarter, worth mentioning that industrial output rose 5.4% in September. Today's report showed that the number of people employed in the manufacturing sector fell 2.2% in October, while people employed in retail outlets, restaurants and hotels declined 3.1%.