South Korea’s Unemployment Rate Unexpectedly Edges Up in May

South Korea’s unemployment rate rose in May for the first time this year, as more people looked for jobs amid an economic recovery from the pandemic.

The jobless rate increased to 3.8% from 3.7% the previous month, the statistics office reported Wednesday. Analysts had forecast an improvement to 3.6%. The economy added 619,000 jobs from a year earlier, a third month of earnings.

While consumer activity is picking up and exports are surging, the virus’ continued spread has capped the consumption recovery. The job market could receive support if another extra budget is passed to support …