Number of newly added jobs y/y in July marks lowest in South Korea since January 2010
- 6 years ago
7월 취업자 증가 5천명 그쳐…2010년 1월 이후 최소
We start with the job market.
The Moon administration has been trying to grow the economy by creating more jobs and boosting income, but the latest figures don't paint a pretty picture.
We're still stuck in one of the worst unemployment crises in the country's history.
Ko Roon-hee has the details.
More disappointing figures on the jobs front for South Korea have been released.
According to Statistics Korea on Friday, around 27 million people were employed in South Korea last month.
That's up a mere five-thousand from the same period last year.
It's also the first time since January 2010 that the number of newly-employed people compared to the same month in the previous year has been so low.
2010 was a tough year for the South Korean economy as it struggled to cope with the brunt of the global financial crisis that started a couple of years earlier.
In addition, the number of newly-added jobs remained in the 100-thousand range for six consecutive months in 2018…but last month, it plunged below the ten-thousand mark.This is significantly lower than last year's monthly average,... which stood at 316-thousand additional jobs.
Breaking it down by industry, the number of newly-added jobs in the manufacturing sector fell by two-point-seven percent on-year.
The education service sector also saw a decline.
Statistics Korea says that while South Korean exports are increasing in certain sectors like semiconductors, ship and automobile exports remain depressed,... which led to fewer new jobs being created in the manufacturing sector.
Meanwhile… South Korea's overall jobless rate stood at three-point-seven percent in July,… up zero-point-three percentage point from the previous year.
The unemployment rate for young adults aged between 15 and 29 stood at nine-point-three percent last month,…unchanged from the previous year.
Ko Roon-hee, Arirang News.
We start with the job market.
The Moon administration has been trying to grow the economy by creating more jobs and boosting income, but the latest figures don't paint a pretty picture.
We're still stuck in one of the worst unemployment crises in the country's history.
Ko Roon-hee has the details.
More disappointing figures on the jobs front for South Korea have been released.
According to Statistics Korea on Friday, around 27 million people were employed in South Korea last month.
That's up a mere five-thousand from the same period last year.
It's also the first time since January 2010 that the number of newly-employed people compared to the same month in the previous year has been so low.
2010 was a tough year for the South Korean economy as it struggled to cope with the brunt of the global financial crisis that started a couple of years earlier.
In addition, the number of newly-added jobs remained in the 100-thousand range for six consecutive months in 2018…but last month, it plunged below the ten-thousand mark.This is significantly lower than last year's monthly average,... which stood at 316-thousand additional jobs.
Breaking it down by industry, the number of newly-added jobs in the manufacturing sector fell by two-point-seven percent on-year.
The education service sector also saw a decline.
Statistics Korea says that while South Korean exports are increasing in certain sectors like semiconductors, ship and automobile exports remain depressed,... which led to fewer new jobs being created in the manufacturing sector.
Meanwhile… South Korea's overall jobless rate stood at three-point-seven percent in July,… up zero-point-three percentage point from the previous year.
The unemployment rate for young adults aged between 15 and 29 stood at nine-point-three percent last month,…unchanged from the previous year.
Ko Roon-hee, Arirang News.