ArticlesBlog

S. Korea added 452,000 jobs in August y/y; biggest increase since March 2017

S. Korea added 452,000 jobs in August y/y; biggest increase since March 2017


South Korea’s employment figures for the
month of August are out and they give a much-needed boost for the countries
struggling job market our Kim Hassan has more around 450 2000
jobs were added on year in August the biggest jump since March 2017 according
to statistics Korea it’s the first job increase of more than 300,000 since
January 2018 the employment rate for those aged 15 and above reported 61.4%
of 0.5 percentage points on year statistics Korea attributed the job
growth to a base effect as only 3,000 jobs were added in August 2018 the
number of people unemployed also fell by more than 270,000 to less than 800
60,000 people making it the biggest monthly drop in more than eight years
that brought the unemployment rate down one percentage point to three percent
the lowest level in nearly six years in August the youth unemployment rate also
fell near three percentage points on year to 7.2 percent last month by age
group those in their 20s 50s and 60s saw job creation go up but those in their
30s and 40s still saw job creation fall this comes mainly as many of the jobs
created were in Health and Social Welfare services which went up by 174
thousand but the manufacturing sector continued to see job creation fall for
the 17th consecutive month down 24,000 on-year finance sector jobs also fell
for the eighth consecutive month retail and wholesale jobs dropped more than
50,000 cameto Arirang news

Comment here