No. of people employed in S. Korea fell 392,000 on-year in September
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Some more brutal job figures for South Korea,… showing seven straight months of on-year decline due to COVID-19 and the related economic crisis.
But the nation's finance chief insists the figures will start recovering in October.
Eum Ji-young reports.
For seven months in a row, the monthly employment figures in South Korea have been worse than they were the year earlier.
According to Statistics Korea on Friday, 392-thousand fewer people were in employment in September compared to the same time the previous year.
That is a fall of one-point-four percent on-year the largest drop in four months.
Last month's figures reflect the impact of strengthened social distancing measures in the capital and surrounding area due to the surge in infections.
"The drop in September's job figures reflects the resurgence of COVID-19 infections since mid-August and the impact of the prolonged pandemic."
The rate of employment for those aged between 15 and 64 was around 66 percent in September,… down one-point-four percentage points compared to the same period the previous year.
And two-point-four million people took a temporary leave of absence from work in September, which is the most for the month of September since the statistics were first compiled in 2003. It was also up 13-point-six percent on-year.
The largest job losses were in the restaurants and lodging sectors which had 225-thousand fewer jobs last month than a year earlier. That's about a 10 percent fall.
The Finance Minister commented at a ministerial meeting that the recent surge in infections has halted the recovery in the job market.
But he added that the situation is better than back in March and April, and that October's figures are also expected to show an improvement.
He also announced plans to issue discount coupons in eight areas such as lodging and tourism to boost spending and revitalize regional economies.
Eum Ji-young Arirang News.