South Korea's job growth hits 14-month high in November

Employment in South Korea rose the most in 14 months as job creation among the elderly was boosted by the government's efforts, a government report showed on Wednesday. The economy created 588,000 jobs in November, the highest increase from a year earlier since September 2012, according Statistics Korea. From a month earlier, the seasonally adjusted figure climbed 74,000 last month after falling 2,000 in the prior month. The job growth among the elderly was especially strong as the government sought to reduce working hours and help companies adopt the flexible working-hour system to boost job creation among woman and the elderly. Jobs among those in their 50s gained 277,000 in November from a year earlier, with those in their 60s increasing 235,000 last month. The figures were much higher than 57,000 jobs growth in their 20s and 36,000 jobs reduction in their 30s.