Domestic Companies to Hire 520,000 from April to September... 8.1% Decrease Compared to Previous Year

Ministry of Employment and Labor, First Half Year Industry-Specific Business Workforce Survey

Job seekers waiting in line at the registration desk to enter the Mid-sized Companies Job Fair held at COEX, Seoul on the 21st. Photo by Huh Younghan younghan@

Due to the impact of the economic downturn, domestic companies are expected to reduce their hiring by approximately 46,000 people in the 2nd and 3rd quarters of this year.

According to the "2024 First Half Occupational Business Labor Survey Results" announced by the Ministry of Employment and Labor on the 27th, the planned number of hires for the 2nd and 3rd quarters (April to September) of this year at businesses with one or more employees in Korea is 525,000, which is a decrease of 46,000 (8.1%) compared to one year ago.

By industry, manufacturing had the highest planned hiring number at 114,000. This was followed by wholesale and retail (61,000), health and social welfare (61,000), and accommodation and food services (51,000).

By occupation, the highest numbers were in management and administrative office work (74,000), sales (52,000), food service (52,000), driving and transportation (47,000), and machinery installation (29,000).

In the 1st quarter of this year, the number of job openings at businesses with one or more employees was 1,439,000, and the number of hires was 1,320,000, representing increases of 3.4% and 7.7%, respectively, compared to the same period last year.

During the same period, the number of unfilled positions despite companies’ recruitment efforts was 119,000, a decrease of 28.5% compared to the same period last year. The unfilled rate also dropped by 3.7 percentage points to 8.3% compared to the previous year.

The main reasons for unfilled positions were "working conditions such as wage levels not meeting job seekers’ expectations" (24.5%) and "lack of applicants with the experience required by the business" (22.1%).

The occupational business labor survey investigates companies’ job openings, hires, shortages, and hiring plans to resolve labor mismatches, targeting 72,000 businesses with one or more employees.