South Korea's jobless rate falls to 2.7%

South Korea's jobless rate fell in September from a month earlier and job creation accelerated, raising hopes that labor market conditions are improving, a government report showed Wednesday. According to the report by Statistics Korea, and carried by Yonhap news agency today, the jobless rate stood at 2.7 % last month, down from 3 % in August. The jobless rate adjusted for inflation also fell to 3 % from 3.1 % over the cited period. The total number of employed people also rose by 463,000 to reach 25.46 million in September, the biggest on, year gain for 12 months. But the jobless rate among those fresh out of college -- aged 25 to 29 -- was higher at 7.7 %, compared to 7.6 % in August and 6.7 % a year ago. South Korea's economy, Asia's fourth-largest, is expected to grow 2.8 % this year after expanding just 2.0 % in 2012.