The unemployment rate hit a 17-year high for the month of March at 4.5 percent, a 0.4 percentage point increase from a year ago. It was the second consecutive month that the unemployment rate was above 4 percent. Market experts have blamed the higher minimum wage for the lack of work, especially in industries with a high number of part-time jobs, such as restaurants and convenience stores. In March alone, 96,000 jobs in wholesale and retail disappeared, a 3.5 percent decline compared to a year earlier. In February, 92,000 positions were terminated. When adding the accommodation and restaurant service businesses, a total of 250,000 jobs have disappeared in the last two months. The government’s 3.9 trillion won ($3.63 billion) supplementary budget has remained on the National Assembly’s floor for 10 days since it was submitted on April 6. The government has been pushing for the budget to pass within this month so that it can be used as soon as possible. The finance minister also addressed corporate restructuring, in particular the ongoing struggle at GM Korea. He said the government will work on a measure that would normalize the company, especially considering the increasing burden on the automaker’s suppliers. “We urge the interested parties, including the labor union, to reach an agreement as soon as possible under the principle of sharing the burden,” Kim said. While management has set a deadline on the agreement by April 20, GM could file for court receivership if the labor union continues to oppose the restructuring plan.