Unemployment benefits paid in S. Korea in March hit record high
- 4 years ago
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It's a dark and uncertain period for many people in South Korea and around the world at this time.
The number of people in South Korea seeking unemployment benefits soared to a record high in March.
This comes as the worldwide COVID-19 pandemic laid waste to production and trade around the globe, slamming South Korea's exports,.. a key driver of the local economy.
Among all industries,... the lodging and food service sectors were hit the hardest.
Kim Hyo-sun has more.
The COVID-19 outbreak has hit the South Korean economy hard,... with the unemployment benefits paid last month hitting an all-time high.
According to data released by the labor ministry on Monday,... the amount of job-seeking allowance paid in March amounted to nearly 736 million U.S. dollars.
This amount of money is a whopping 40-point-4 percent surge from the same period last year.
The number of people applying for the benefits also jumped almost 25 percent on-year in March,... standing at 156-thousand.
This was the largest on-year increase since March 2009,... when the global economy was enduring the turmoil of the financial crisis.
A majority of them were in the lodging and dining industries,... at over 76-hundred.
Significant harm was also inflicted on service businesses like tourism and healthcare.
Seoul's labor vice minister Lim Seo-jeong said Monday that the impact of COVID-19 is expected to be much worse for those in vulnerable situations including daily hires and the self-employed,... who are not covered by employment insurance.
The ministry also said it will be extending the E-9 visa for foreign workers in the country until the end of June,... as many businesses are facing difficulties in hiring them due to intensified border controls imposed to protect the public against the pandemic.
Kim Hyo-sun, Arirang News.
It's a dark and uncertain period for many people in South Korea and around the world at this time.
The number of people in South Korea seeking unemployment benefits soared to a record high in March.
This comes as the worldwide COVID-19 pandemic laid waste to production and trade around the globe, slamming South Korea's exports,.. a key driver of the local economy.
Among all industries,... the lodging and food service sectors were hit the hardest.
Kim Hyo-sun has more.
The COVID-19 outbreak has hit the South Korean economy hard,... with the unemployment benefits paid last month hitting an all-time high.
According to data released by the labor ministry on Monday,... the amount of job-seeking allowance paid in March amounted to nearly 736 million U.S. dollars.
This amount of money is a whopping 40-point-4 percent surge from the same period last year.
The number of people applying for the benefits also jumped almost 25 percent on-year in March,... standing at 156-thousand.
This was the largest on-year increase since March 2009,... when the global economy was enduring the turmoil of the financial crisis.
A majority of them were in the lodging and dining industries,... at over 76-hundred.
Significant harm was also inflicted on service businesses like tourism and healthcare.
Seoul's labor vice minister Lim Seo-jeong said Monday that the impact of COVID-19 is expected to be much worse for those in vulnerable situations including daily hires and the self-employed,... who are not covered by employment insurance.
The ministry also said it will be extending the E-9 visa for foreign workers in the country until the end of June,... as many businesses are facing difficulties in hiring them due to intensified border controls imposed to protect the public against the pandemic.
Kim Hyo-sun, Arirang News.