COVID-19 causes S. Korea's first ever on-year loss in corporate employment
- 4 years ago
고용 충격에 3월 사업체 종사자 사상 첫 감소... 4월 소비심리 하락
The virus' economic fallout is very real and the numbers show it.
It's severely damaged the country's job market; credit card spending post a record drop last month and consumer sentiment plunged to levels unseen since the global financial crisis.
What's even more worrisome: South Koreans say they aren't looking to open up their wallets anytime soon.
Kim Jae-hee has the details.
The global coronavirus pandemic has seriously damaged South Korea's job market. According to the Ministry of Employment and Labor on Tuesday,... South Korea saw its first on-year decrease in the number of those in employment.
The data excludes workers who are not employed by businesses,... such as nannies, chauffeurs or those hired by subcontractors.
"As of the last working day of March,... local business entities employing more than one person had some 18 million workers. This is down 1-point-2 percent from a year earlier,... and the first time that the number has decreased on-year since records began in 2009."
The number of regular workers decreased by just point-one percent in March, whereas the number of non-regular workers and employees in other types of jobs shrank by 7 percent and 7-point-9 percent, respectively.
By sector, the accommodation and food service sectors suffered the biggest loss of around 153 thousand workers,... followed by education services, and sectors related to arts and sports.
The job market isn't the only industry that has been hit by the coronavirus outbreak.
Data from the Credit Finance Association shows,...
the amount of purchases using credit and debit cards dropped 4-point-3 percent in March compared to a year earlier,... the largest on-year drop on record.
Concerns over the coronavirus outbreak have also dragged down consumer sentiment this month to the lowest level in over a decade.
According to data from the Bank of Korea on Tuesday,... South Korea's Composite Consumer Sentiment Index plunged to 70-point-8 in April.
That's the lowest since December 2008, during the global financial crisis.
South Korea's consumer sentiment has fallen for the third straight month.
The index fell 7-point-6 points on-month in April,... another big fall following the 18-point-5 points plunge last month.
The sentiment index for current economic conditions, the index for current financial status, and the outlook for jobs were all down.
Kim Jae-hee, Arirang News.
The virus' economic fallout is very real and the numbers show it.
It's severely damaged the country's job market; credit card spending post a record drop last month and consumer sentiment plunged to levels unseen since the global financial crisis.
What's even more worrisome: South Koreans say they aren't looking to open up their wallets anytime soon.
Kim Jae-hee has the details.
The global coronavirus pandemic has seriously damaged South Korea's job market. According to the Ministry of Employment and Labor on Tuesday,... South Korea saw its first on-year decrease in the number of those in employment.
The data excludes workers who are not employed by businesses,... such as nannies, chauffeurs or those hired by subcontractors.
"As of the last working day of March,... local business entities employing more than one person had some 18 million workers. This is down 1-point-2 percent from a year earlier,... and the first time that the number has decreased on-year since records began in 2009."
The number of regular workers decreased by just point-one percent in March, whereas the number of non-regular workers and employees in other types of jobs shrank by 7 percent and 7-point-9 percent, respectively.
By sector, the accommodation and food service sectors suffered the biggest loss of around 153 thousand workers,... followed by education services, and sectors related to arts and sports.
The job market isn't the only industry that has been hit by the coronavirus outbreak.
Data from the Credit Finance Association shows,...
the amount of purchases using credit and debit cards dropped 4-point-3 percent in March compared to a year earlier,... the largest on-year drop on record.
Concerns over the coronavirus outbreak have also dragged down consumer sentiment this month to the lowest level in over a decade.
According to data from the Bank of Korea on Tuesday,... South Korea's Composite Consumer Sentiment Index plunged to 70-point-8 in April.
That's the lowest since December 2008, during the global financial crisis.
South Korea's consumer sentiment has fallen for the third straight month.
The index fell 7-point-6 points on-month in April,... another big fall following the 18-point-5 points plunge last month.
The sentiment index for current economic conditions, the index for current financial status, and the outlook for jobs were all down.
Kim Jae-hee, Arirang News.