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 number of people employed in South Korea declined in November because of the pandemic for a ninth month in a row.
This is 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 on-year decline since April 1999.
And Statistics Korea warns, the recent spike in COVID-19 cases is expected to drag down 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."
Finance Minister Hong Nam-ki on Thursday also voiced concerns of job losses in December and January.
In November, the unemployment rate hit 3-point-4 percent, up point-3 percentage points on-year.
All age brackets apart from those over 60 saw an on-year decrease in the number of people employed and the employment rate.
The employment rate for those aged between 15 and 64 was down one-point-one percentage points on-year to 66-point-three percent, while for those aged 65 and over it was up one percentage point to 36 percent.
The wholesale and retail sectors saw 166-thousand job losses last month compared to a year earlier.
Restaurants and lodging had 161-thousand fewer jobs on-year, and the manufacturing sector lost 113-thousand jobs.
One expert predicted the job market recovery may take longer than expected.
"The economy has to recover first in order for employment to improve. But COVID-19, which is currently the main factor dragging down the economy, seems unlikely to go away anytime soon, especially with the recent third wave. The job market may remain subdued for longer than expected."
"The expert says the government's priority should be to tame the spread of COVID-19,... to help the economy recover and overcome the worst employment crisis in years.
Kim Jae-hee, Arirang News."
The number of people employed in South Korea declined in November because of the pandemic for a ninth month in a row.
This is 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 on-year decline since April 1999.
And Statistics Korea warns, the recent spike in COVID-19 cases is expected to drag down 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."
Finance Minister Hong Nam-ki on Thursday also voiced concerns of job losses in December and January.
In November, the unemployment rate hit 3-point-4 percent, up point-3 percentage points on-year.
All age brackets apart from those over 60 saw an on-year decrease in the number of people employed and the employment rate.
The employment rate for those aged between 15 and 64 was down one-point-one percentage points on-year to 66-point-three percent, while for those aged 65 and over it was up one percentage point to 36 percent.
The wholesale and retail sectors saw 166-thousand job losses last month compared to a year earlier.
Restaurants and lodging had 161-thousand fewer jobs on-year, and the manufacturing sector lost 113-thousand jobs.
One expert predicted the job market recovery may take longer than expected.
"The economy has to recover first in order for employment to improve. But COVID-19, which is currently the main factor dragging down the economy, seems unlikely to go away anytime soon, especially with the recent third wave. The job market may remain subdued for longer than expected."
"The expert says the government's priority should be to tame the spread of COVID-19,... to help the economy recover and overcome the worst employment crisis in years.
Kim Jae-hee, Arirang News."