43,000 Wage Worker Jobs Added in Q1... Those Aged 60 and Over Account for 60% of the Increase

Statistics Korea Announces Wage Worker Job Trends
Jobs Decrease by 60,000 for Those Under 30

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Kim Hyunjung] Although the total number of wage worker jobs increased by 430,000 in the first quarter of this year, most of the increase?about 300,000 jobs?occurred among those aged 60 and over. Among those aged 30 and under, who are supposed to be actively entering the workforce, jobs actually decreased by 60,000.

According to the 'Wage Worker Job Trends' data released by Statistics Korea on the 27th, the number of wage worker jobs in the first quarter of this year (as of February) was 18,676,000, an increase of 428,000 jobs (2.3%) compared to the same period last year. The increase was lower than the 592,000 jobs added in the fourth quarter of last year.

By age group, jobs increased for those in their 60s and 50s, while jobs decreased for those in their 30s and 20s or younger. Jobs for those aged 60 and over (2,341,000) increased by 253,000 (12.1%), accounting for 59.1% of the total increase. Among jobs for those aged 60 and over, the proportion of continuous jobs was 64.3%, and the proportion of newly hired jobs was 35.7%. Jobs for those in their 50s (4,137,000) increased by 171,000 (4.3%), and those in their 40s (4,652,000) increased by 64,000 (1.4%).

Jobs for those in their 30s (4,339,000) decreased by 47,000 (-1.1%), and those aged 20 or younger (3,207,000) decreased by 13,000 (-0.4%). The share of total wage worker jobs by age group was 40s (24.9%), 30s (23.2%), 50s (22.2%), 20s or younger (17.2%), and 60s and over (12.5%), in that order.

By industry, jobs increased by 156,000 in Health and Social Welfare (2,021,000) and by 63,000 in Public Administration (1,209,000). Education (1,206,000) increased by 53,000, and Professional, Scientific, and Technical Services (876,000) increased by 50,000.

The manufacturing industry, which accounts for the largest share of 22.4%, decreased by 22,000 jobs to 4,184,000 compared to a year ago, continuing the decline since the fourth quarter of last year. Operating jobs decreased in Textile Products (-8,000), Rubber and Plastics (-6,000), and Other Machinery and Equipment (-6,000). Accommodation and Food Services, which increased by 55,000 jobs in the fourth quarter of last year, only increased by 8,000 in the first quarter of this year due to the impact of the COVID-19 pandemic, and Construction (1,655,000) decreased by 7,000 jobs.

By gender, jobs for men (10,857,000) increased by 155,000 (1.4%), and jobs for women (7,819,000) increased by 273,000 (3.6%). The share of men in total jobs was 58.1%, and women accounted for 41.9%.