Number of newly-added jobs in South Korea slumps below 100,000 in May
  • 6 years ago
Despite government efforts to boost the nation's worsening job market,... new figures show the country is facing one of its worst ever employment crises,... and things are looking especially bad for young Koreans.
Ko Roon-hee reports.
The number of employed people in South Korea was just 27 million in May.
And according to Statistics Korea on Friday, the number of newly-employed people in South Korea is going down month-by-month.

From February to April, job growth was just above the 100-thousand mark.
However, in May, the corresponding figure was a mere 72-thousand.

It also marks the first time since the 2008 global financial crisis that the number of newly-employed people in South Korea has fallen for four consecutive months.
The dip in overall employment is mainly attributed to a downturn in the country's manufacturing, retail, and educational service sectors.
Statistics Korea says large-scale restructuring in the local automobile industry hurt the country's overall manufacturing base.
The outlook for young jobseekers is even more gloomy.
The jobless rate for Koreans between 15-to-29 years old was ten-point-five percent.
That's the highest rate on record since related figures were first compiled in 1999.
Statistics Korea pointed out that the rate is so high because the number of people in their late teens is continuously decreasing due to the country's low birthrate.
Ko Roon-hee, Arirang News.
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