281,000 jobs created in S. Korea in June y/y: Statistics Korea
- 5 years ago
6월 취업자 17개월 만에 최대 증가…고용질은 '하락'
There are some signs of improvement in South Korea's jobs market,... with the number of newly employed people reaching a 17-month high in June.
However, a deeper dive into the report shows it isn't all good news.
Ko Roon-hee has the details.
The latest report from the South Korean government shows the number of new jobs continues to be on the upswing.
According to Statistics Korea on Wednesday, the number of employed people in South Korea in June was around 27-point-4 million,... up 281-thousand on-year.
The increase has surpassed the 200-thousand mark for two months in a row...and its the biggest rise since January 2018.
Last month's uptick was mainly due to more new jobs being created in the health and social work sectors,... which jumped by a combined 125-thousand.
Analysts say this comes after the government created more public sector jobs in those fields.
The employment rate among people aged 15 to 64 marked 67-point-2 percent....marking the highest for the month of June since data was first compiled in 1989.
On a dimmer note..., the overall unemployment rate rose to four percent, up from last June's figure of three-point-seven percent.
The number of people unemployed came to around 1-point-14 million, which is the highest for the month of June since 1999.
As for the reason behind increases in both the employment and unemployment rates, Statistics Korea explained this means more people are looking for jobs as more are being created.
Analysts also worry about a decrease in the number of jobs for people in their 30s and 40s as they're supposed to be actively engaged in economic activities.
On the contrary, the number in the group aged 60 or older continues to jump...this month by 372-thousand...which contributed the most to the overall number of new jobs.
Breaking it down by sector, the number of jobs continued to decline on-year in manufacturing, where jobs are generally of high quality.
The number of people employed in that sector fell by 66-thousand on-year...and it has been falling on-year since April last year.
An economic expert explained that manufacturing is a big part of the bigger picture.
"South Korea's overall exports are falling...including the semiconductor sector. Also, some analysts are predicting that nation's economic growth rate this year will mark below 2-percent. The overall economic slowdown seems to be linked to the sluggish manufacturing sector."
Experts say the South Korean government's efforts to boost the economy, for example by deregulation, are crucial to achieving a significant improvement in the job market.
Ko Roon-hee, Arirang News.
There are some signs of improvement in South Korea's jobs market,... with the number of newly employed people reaching a 17-month high in June.
However, a deeper dive into the report shows it isn't all good news.
Ko Roon-hee has the details.
The latest report from the South Korean government shows the number of new jobs continues to be on the upswing.
According to Statistics Korea on Wednesday, the number of employed people in South Korea in June was around 27-point-4 million,... up 281-thousand on-year.
The increase has surpassed the 200-thousand mark for two months in a row...and its the biggest rise since January 2018.
Last month's uptick was mainly due to more new jobs being created in the health and social work sectors,... which jumped by a combined 125-thousand.
Analysts say this comes after the government created more public sector jobs in those fields.
The employment rate among people aged 15 to 64 marked 67-point-2 percent....marking the highest for the month of June since data was first compiled in 1989.
On a dimmer note..., the overall unemployment rate rose to four percent, up from last June's figure of three-point-seven percent.
The number of people unemployed came to around 1-point-14 million, which is the highest for the month of June since 1999.
As for the reason behind increases in both the employment and unemployment rates, Statistics Korea explained this means more people are looking for jobs as more are being created.
Analysts also worry about a decrease in the number of jobs for people in their 30s and 40s as they're supposed to be actively engaged in economic activities.
On the contrary, the number in the group aged 60 or older continues to jump...this month by 372-thousand...which contributed the most to the overall number of new jobs.
Breaking it down by sector, the number of jobs continued to decline on-year in manufacturing, where jobs are generally of high quality.
The number of people employed in that sector fell by 66-thousand on-year...and it has been falling on-year since April last year.
An economic expert explained that manufacturing is a big part of the bigger picture.
"South Korea's overall exports are falling...including the semiconductor sector. Also, some analysts are predicting that nation's economic growth rate this year will mark below 2-percent. The overall economic slowdown seems to be linked to the sluggish manufacturing sector."
Experts say the South Korean government's efforts to boost the economy, for example by deregulation, are crucial to achieving a significant improvement in the job market.
Ko Roon-hee, Arirang News.