Employment, no. of self-employed in doldrums despite recovery in private consumption: PM
- 5 years ago
Prime Minister Lee Nak-yon has expressed concerns about the decline in employment and South Korea's contracting number of self-employed, despite a recovery in private consumption.
During his weekly meeting with related ministers on Thursday, the PM said South Korea's private consumption jumped nearly three percent on-year, the biggest increase in seven years, but investment fell two-point-three percent.
He said fewer people are eating out, but more are going on overseas trips and while online transactions are on the up, offline shopping is suffering.
Pointing to widening income distribution and an increase in the number of people in the low-income bracket, the Prime Minister identified South Korea's aging society and poor employment for the deterioration.
He also called on industries, consumers and the government to be aware of the situation and respond wisely.
During his weekly meeting with related ministers on Thursday, the PM said South Korea's private consumption jumped nearly three percent on-year, the biggest increase in seven years, but investment fell two-point-three percent.
He said fewer people are eating out, but more are going on overseas trips and while online transactions are on the up, offline shopping is suffering.
Pointing to widening income distribution and an increase in the number of people in the low-income bracket, the Prime Minister identified South Korea's aging society and poor employment for the deterioration.
He also called on industries, consumers and the government to be aware of the situation and respond wisely.