Employment Increases by Over 350,000 for Two Consecutive Months... 351,000 in May (Update)

The monthly increase in the number of employed persons remained in the 350,000 range for two consecutive months.

According to the 'May Employment Trends' released by Statistics Korea on the 14th, the number of employed persons was 28,835,000, an increase of 351,000 compared to the same month last year.

The number of employed persons has shown an increase compared to the same month of the previous year for 27 consecutive months since March 2021 (314,000).

However, the increase in the number of employed persons last month decreased by 3,000 compared to April (354,000).

The monthly increase in the number of employed persons had slowed for nine consecutive months from June last year to February this year, then expanded in March (469,000), but has returned to a decreasing trend for two consecutive months.

During the same period, the number of employed persons in the manufacturing industry decreased by 39,000 compared to the same month last year, marking a decline for five consecutive months. The decrease was smaller than the previous month (97,000).

The number of employed persons in the construction industry decreased by 66,000, the largest decline since November 2019 (-70,000).

The number of employed persons aged 29 and under also decreased by 99,000 compared to the same month last year, continuing a decline for seven consecutive months. However, the decrease in youth employment was smaller than in April (137,000).