The upcoming Lunar New Year holidays will likely distort South Korea's jobs data positively in February, says HI Investment & Securities analyst Lee Seung-joon. The holidays fall on Feb. 18-20 this year after coming in January last year. "The Lunar New Year holidays are usually positive for job growth because of a spike in demand for workers in retail and transportation services," Lee says after the country on Wednesday reported it maintained jobs growth in January. Korea's seasonally adjusted jobless rate fell to 3.4% in January from 3.5% a month earlier. The number of new jobs in the country rose by 347,000 in January from a year earlier following a 422,000 gain in December. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
February 10, 2015 21:30 ET (02:30 GMT)
Description: Holidays May Distort South Korea's Jobs Data in February -- Market Talk
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