S. Korea's employment rises 96,000 on year in June-Xinhua

S. Korea's employment rises 96,000 on year in June

Source: Xinhua

Editor: huaxia

2024-07-10 10:06:45

SEOUL, July 10 (Xinhua) -- South Korea's employment growth stayed below 100,000 for the second straight month due to a rapid fall in youth jobs, statistical office data showed Wednesday.

The number of employed people aged 15 or older rose 96,000 over the year to 28,907,000 in June after growing 80,000 in the previous month, according to Statistics Korea.

The overall job expansion was driven by the elderly people. The number of jobs for those aged 60 or older advanced 258,000 in June on a yearly basis, while the figures for those in their 30s and 50s gained 91,000 and 2,000 each.

Employment among those aged 15-29 dived 149,000 last month, and jobs for those in their 40s reduced 106,000.

The number of jobs among manufacturers grew 9,000 in June after going up 100,000 in April and 38,000 in May. It kept an upward trend for the seventh consecutive month.

Employment in the health and social welfare service, the information and communications, and the transport and warehousing industries picked up 120,000, 75,000 and 47,000 respectively.

Jobs lost in the construction and the education service sectors stood at 66,000 and 63,000 each.

The number of regular and irregular employees climbed 139,000 and 204,000 each, but the reading for daily laborers dwindled 121,000 last month.

The number of the self-employed who hired employees swelled 34,000, but the figure for the self-employed without workers retreated 135,000.

Employment rate for those aged 15 or higher was unchanged at 63.5 percent in June compared to the same month of last year, while the OECD-method hiring rate for those aged 15-64 made no change at 69.9 percent.

The number of the unemployed people came to 857,000 in June, up 50,000 from a year earlier. Jobless rate mounted 0.2 percentage points to 2.9 percent.

The expanded jobless rate slipped 0.2 percentage points to 8.7 percent in the cited month, while the corresponding rate for those aged 15-29 declined 1.5 percentage points to 15.5 percent.

The official unemployment rate gauges those who are immediately available for work but failed to get a job for the past four weeks despite efforts to seek a job actively.

The expanded jobless rate, called labor underutilization indicator, adds those who are discouraged from searching for a job, those who work part-time against their will to work full-time, and those who prepare to get a job after college graduation, to the official unemployment rate.

The economically inactive population, who had no willingness to seek a job and remained unemployed, rose 21,000 from a year earlier to 15,786,000 in June.

The reading for discouraged job seekers went up 29,000 to 372,000 last month.

The number of the "take-a-rest" group, who replied that they took a rest during a job survey period, gained 129,000 to 2,374,000 in the same month.

The take-a-rest group is considered important as it can include those who are too discouraged to seek a job for an extended period.