Employment Insurance Subscribers Increase by Over 200,000 for Two Consecutive Months

April Employment Market Trends

The increase in the number of employment insurance subscribers continued to slow down, with the growth rate remaining in the 200,000 range for two consecutive months last month.

According to the 'Labor Market Trends' released by the Ministry of Employment and Labor on the 13th, as of the end of last month, the number of regular employment insurance subscribers was 15,354,000, an increase of 244,000 (1.6%) compared to the same month last year.

The increase in subscribers dropped from 312,000 in February to 272,000 in March, falling into the 200,000 range, and has remained in the 200,000 range for two consecutive months.

Among the increased subscribers, 63,000 were foreign workers who entered Korea under the Employment Permit System with non-professional employment visas (E-9) and visiting employment visas (H-2). Notably, 89.6% of foreign workers under the Employment Permit System (E9, H2) were concentrated in manufacturing.

Excluding the increase in foreign subscribers (63,000), the increase in domestic subscribers was 181,000.

By industry, the number of subscribers in manufacturing was 3,843,000, an increase of 47,000 compared to last year. However, excluding foreign workers under the Employment Permit System, it decreased by 9,000.

Within manufacturing, most sectors continued to see increases, including food products (10,000), other transportation equipment (10,000), metal processing (9,000), and automobiles (5,000), while textile products (-5,000) decreased.

The number of subscribers in the service industry was 10,589,000, an increase of 199,000 compared to a year ago. The health and welfare sector (121,000) continued to grow, but business services (29,000), accommodation and food services (25,000), professional scientific services (16,000), and transportation and warehousing (13,000) showed a slowdown in growth.

Looking at the total employment insurance subscribers by age group, there were increases among those in their 30s (43,000), 50s (119,000), and 60 and older (200,000), while those under 29 (-86,000) and in their 40s (-32,000) decreased.

The under-29 age group was most affected by population decline, with decreases in retail (-21,000), information and communications (-18,000), and health and welfare (-12,000). The 40s age group also saw decreases in construction (-14,000), retail (-6,000), real estate (-5,000), and educational services (-4,000).

The number of job seekers applying for unemployment benefits (job-seeking allowance) paid from the employment insurance fund to support unemployed job seekers was 101,000, an increase of 5,000 compared to the same month last year.

Applications increased in all industries except real estate (-1,000), including construction (13,000), information and communications (9,000), professional scientific and technical services (7,000), and public administration (5,000).

During the same period, the amount paid for job-seeking benefits was 1.0546 trillion won, an increase of 9.7%. The number of recipients increased by 4,000 (0.5%) to 661,000.