"Relax Regulations to Encourage Creation of Quality Private Sector Jobs"
"Support Employment for Vulnerable Groups Such as Special Employment Types, Youth, and Large-Scale Services"
Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Economy and Finance (third from the left), presides over the Ministerial Meeting (Green Room Meeting) focusing on the 'April 2021 Employment Trends' at the Government Seoul Office in Gwanghwamun, Seoul, on the 12th. (Photo by Yonhap News)
[Sejong=Asia Economy Reporter Moon Chaeseok] Amid the favorable trends in employment numbers and employment rates last month, the government announced that it will continue to pour policy efforts into deregulation and other measures until the employment market stabilizes, as the situation remains difficult for vulnerable employment groups such as face-to-face service industry workers and youth.
On the morning of the 12th, Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, chaired a meeting of related ministers (the Green Room Meeting) at the Government Seoul Office and assessed, "Despite recent improvements in employment, the number of employed persons has not yet recovered to pre-COVID-19 levels." Attending the meeting were Minister Hong, Minister Ahn Kyung-duk of the Ministry of Employment and Labor, Koo Yoon-chul, Director of the Office for Government Policy Coordination, Ryu Geun-kwan, Commissioner of Statistics Korea, Lim Seo-jung, Senior Secretary for Jobs at the Blue House, and Ahn Il-hwan, Senior Secretary for Economic Affairs at the Blue House.
The ministers attending the meeting emphasized the significance of the increase in the number of employed persons, including growth in manufacturing employment and private sector jobs. They also mentioned the improvement in employment rates among those in their 30s and 40s, as well as the increase in regular workers, including those who have signed employment contracts with employers for more than one year.
According to the employment trends announced by Statistics Korea on the same day, the number of employed persons last month was 27.214 million, an increase of 652,000 compared to the same month a year earlier. This was the largest increase in over six years since August 2014, when employment rose by 670,000. Manufacturing employment increased by 9,000 compared to the previous year, and accommodation and food services saw an increase for the first time since COVID-19, rising by 61,000. Excluding public administration, health and welfare, and other fiscal jobs, private sector employment increased by 348,000, accounting for more than half of the total increase of 652,000. The employment rate for those in their 30s rose by 0.2 percentage points compared to the previous year, and the number of regular workers increased by 311,000 year-on-year.
However, as difficulties persist for vulnerable employment groups such as face-to-face service workers and youth, the government stated it will support the creation of quality jobs in the private sector through regulatory reforms and the promotion of a 110 trillion won investment project. It also pledged to strengthen emergency employment stabilization support for special-type workers (Special Employment Types, or "teukgo"), as well as employment support and livelihood stabilization efforts for youth, women, and face-to-face service industry workers.
Deputy Prime Minister Hong said, "Difficulties for the face-to-face service industry and vulnerable employment groups continue. Since full economic recovery can be achieved when employment recovers to pre-COVID-19 levels following economic improvement, we plan to focus policy efforts on job creation and stabilizing the employment market."
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