Hong Nam-ki Self-assesses "Although There Is a Base Effect, Employment Quantity and Quality Show Clear Improvement Trends"

[Asia Economy Sejong=Reporter Kim Hyewon] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, on the 16th, self-assessed that a clear improvement trend is emerging in both the quantitative and qualitative aspects of employment.

On the same day, Deputy Prime Minister Hong stated on Facebook, "The number of employed people in January increased by 1,135,000 compared to the same month last year, marking the largest increase in 21 years and 10 months since March 2000."

Deputy Prime Minister Hong said, "Considering the difficult times when the number of employed people significantly decreased due to COVID-19, even taking into account the base effect, I feel a special sentiment about the increase of over one million employed people."

He continued, "Although the base effect from January last year also influenced this employment, the clear improvement trend in both quantitative and qualitative aspects observed in our labor market is becoming more evident."

He explained, "The private sector led the employment increase," adding, "The increase in employment in the public administration and health and welfare sectors is also mainly among regular workers, which has little direct relation to government job projects."

He also evaluated, "Employment conditions across all age groups have improved for six consecutive months," and "Full-time and regular workers, which are relatively higher-quality jobs, are leading the employment improvement."

Deputy Prime Minister Hong stated, "The government will continue to closely monitor the impact of the recent increase in confirmed cases on the overall labor market, while providing robust and swift support to affected industries and groups, and will strengthen policy efforts to ensure the continued quantitative and qualitative improvement trend in the labor market."

He added, "Once the supplementary budget bill under deliberation in the National Assembly is passed, we will make every effort to ensure the prompt execution of supplementary budget projects aimed at supporting affected sectors and restoring jobs for vulnerable groups."