Positive signs in job market as employment insurance subscriptions rise
- 6 years ago
Data suggest South Korea's job market is on the recovery.
The number of people paying into employment insurance programs in April... surpassed 13 million for the first time,... largely thanks to more jobs in the service sector.
According to the Ministry of Employment and Labor,... there were 13 million 92-thousand people working and contributing to employment insurance as of last month,... a rise of more than 300-thousand from a year earlier.
Most Korean employees sign up for the scheme to provide against potential layoffs, so it's an indicator of the country's overall job situation.
The rise in subscribers was mainly in the service sector, including health and welfare, wholesale and retail, and accommodation and food.
But employment was sluggish in the automobile sector due to a large-scale restructuring.
Subscriptions in the auto sector dropped more than 8 percent on year.
The number of people paying into employment insurance programs in April... surpassed 13 million for the first time,... largely thanks to more jobs in the service sector.
According to the Ministry of Employment and Labor,... there were 13 million 92-thousand people working and contributing to employment insurance as of last month,... a rise of more than 300-thousand from a year earlier.
Most Korean employees sign up for the scheme to provide against potential layoffs, so it's an indicator of the country's overall job situation.
The rise in subscribers was mainly in the service sector, including health and welfare, wholesale and retail, and accommodation and food.
But employment was sluggish in the automobile sector due to a large-scale restructuring.
Subscriptions in the auto sector dropped more than 8 percent on year.