A record-high 98 percent of newly minted university graduates landed jobs at the beginning of this fiscal year, government data showed Friday, reflecting a recovering economy.

The employment rate of job-seeking graduates rose 0.4 percentage points from a year earlier, up for the seventh consecutive year, in an annual survey that's been conducted since 1997 by the labor and education ministries.

Aided by firms' increasing appetite for recruitment, the rate of university students seeking jobs also increased to 75.3 percent, the highest on record.