No. of people employed in S. Korea in November falls y/y for ninth consecutive month
- 3 years ago
11월 취업자 27만3천명↓…'IMF 때 이후 최장' 9개월 연속 감소
The COVID-19 pandemic is taking an enormous financial toll on South Korea's working-age population.
The number of people employed in South Korea declined on-year for the ninth straight month in November.
It now marks the longest period of decline in more than 20 years.
Kim Jae-hee reports.
South Korea has endured nine straight months of declining on-year job figures.
According to Statistics Korea on Wednesday, roughly 27 million people were employed in November, down 273-thousand on-year.
Although the situation was better than the previous month, when the number of jobs tumbled by 421-thousand,... nine consecutive months marks the longest period of decline since the figure dropped for the 16th straight month in April 1999.
Furthermore, Statistics Korea explains the recent spike in COVID-19 cases is expected to drag on December's numbers as well.
"November saw a slight improvement in the number of job losses, as softened social distancing measures in October boosted certain industries. However, it's hard to expect an improvement in December,...due to enhanced social distancing measures to level 2-point-5 in the capital area and level 2 for other regions."
South Korea's unemployment rate was up point-3 percentage points on-year to 3-point-4 percent in November.
By age group, apart from those aged 60 and over, all age brackets saw an on-year decrease in the number of people employed and the employment rate.
The employment rate for those between 15 to 64 was down one-point-one percentage points on-year to 66-point-three percent, but for those 65 and over it was up one percentage points to 36 percent.
Job losses were concentrated in service sectors that require face-to-face interaction.
The wholesale and retail sectors saw 166-thousand job losses last month compared to a year earlier.
The restaurants and lodging sectors had 161-thousand fewer jobs on-year.
The manufacturing sector lost 113-thousand jobs.
However, the public administration sector gained 152-thousand jobs and the social welfare sector added 114-thousand positions.
Kim Jae-hee, Arirang News.
The COVID-19 pandemic is taking an enormous financial toll on South Korea's working-age population.
The number of people employed in South Korea declined on-year for the ninth straight month in November.
It now marks the longest period of decline in more than 20 years.
Kim Jae-hee reports.
South Korea has endured nine straight months of declining on-year job figures.
According to Statistics Korea on Wednesday, roughly 27 million people were employed in November, down 273-thousand on-year.
Although the situation was better than the previous month, when the number of jobs tumbled by 421-thousand,... nine consecutive months marks the longest period of decline since the figure dropped for the 16th straight month in April 1999.
Furthermore, Statistics Korea explains the recent spike in COVID-19 cases is expected to drag on December's numbers as well.
"November saw a slight improvement in the number of job losses, as softened social distancing measures in October boosted certain industries. However, it's hard to expect an improvement in December,...due to enhanced social distancing measures to level 2-point-5 in the capital area and level 2 for other regions."
South Korea's unemployment rate was up point-3 percentage points on-year to 3-point-4 percent in November.
By age group, apart from those aged 60 and over, all age brackets saw an on-year decrease in the number of people employed and the employment rate.
The employment rate for those between 15 to 64 was down one-point-one percentage points on-year to 66-point-three percent, but for those 65 and over it was up one percentage points to 36 percent.
Job losses were concentrated in service sectors that require face-to-face interaction.
The wholesale and retail sectors saw 166-thousand job losses last month compared to a year earlier.
The restaurants and lodging sectors had 161-thousand fewer jobs on-year.
The manufacturing sector lost 113-thousand jobs.
However, the public administration sector gained 152-thousand jobs and the social welfare sector added 114-thousand positions.
Kim Jae-hee, Arirang News.