Statistics Korea June Employment Trends
Youth Employment Down by 117,000... Declining for 8 Consecutive Months
Job seekers participating in the '2023 Mid-sized Companies Job Fair' held on the 3rd at COEX in Gangnam-gu, Seoul, are looking at the recruitment board. Photo by Jinhyung Kang aymsdream@
The number of employed people in June increased to the 300,000 range for the third consecutive month. The number of unemployed fell to the lowest level in 15 years.
According to the 'June Employment Trends' released by Statistics Korea on the 12th, the number of employed people was 28,812,000, an increase of 333,000 compared to the same month last year. This marks 28 consecutive months of growth since March 2021, when it increased by 314,000.
However, the rate of increase has somewhat slowed down after March's 469,000, with April at 354,000 and May at 351,000.
The number of employed youth (ages 15-29) was 3,947,000, a decrease of 117,000, showing a decline for eight consecutive months. The decrease also widened from 99,000 in May.
For other age groups, employment increased by 70,000 in their 30s, 71,000 in their 50s, and 343,000 for those aged 60 and above. In contrast, employment in the 40s decreased by 34,000, marking a decline for 12 consecutive months.
The employment rate was 63.5%, up 0.6 percentage points from the same period last year. The employment rate for ages 15-64, the OECD comparison standard, rose 0.8 percentage points to 69.9%.
The number of unemployed was 807,000, down 81,000. This is the lowest level since June 2008, when it recorded 770,000. The unemployment rate also fell by 0.3 percentage points to 2.7%.
The number of manufacturing industry employees decreased by 10,000 to 4,488,000. The decline has continued for six consecutive months. Employment in the construction industry decreased by 62,000 to 2,123,000.
The economically inactive population, those neither employed nor unemployed, was 15,765,000, down 118,000.
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