0448 GMT - South Korea's jobs growth in January signals the need for policy support as gains were led by government jobs, rather than the private sector, ING economist Min Joo Kang writes in a note. The country added 135,000 jobs on year in January, with its seasonally adjusted jobless rate plunging to 2.9% from 3.7% in December. Public administration, health and social services contributed the most to the job gains, while the manufacturing sector recovered slightly after five months of contraction, and other major sectors such as construction and transport continued to shed jobs, Kang says. She expects a rate cut by the central bank in February and an extra government budget offer by end-March. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 23:48 ET (04:48 GMT)
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