South Korea's unemployment rate climbed to its highest level since 1999 in January as strict restrictions were imposed to limit the domestic coronavirus epidemic.

The unemployment rate rose to 5.4% in January from a revised 4.5% the previous month, the South Korean Bureau of Statistics said on Wednesday. Economists had expected 4.5%. There were 982000 fewer jobs in January than in the same period last year, the 11th consecutive month of job losses.