Statistics Korea September Employment Trends
On the 15th, job seekers were lining up to receive employment consultations at the "2024 Hope Happiness Future Job Fair" hosted by Yeongdeungpo-gu, Hankyung Association Middle-aged Tomorrow Center, Seoul Southern Employment and Labor Office, and Yeongdeungpo Women's Workforce Development Center, held at the FKI Tower in Yeouido, Seoul. Photo by Jo Yongjun jun21@
The increase in the number of employed persons last month remained in the 100,000 range for the third consecutive month. This is due to a significant decrease in jobs in the wholesale and retail trade and construction sectors.
According to the 'September Employment Trends' announced by Statistics Korea on the 16th, the number of employed persons aged 15 and over last month was 28,842,000, an increase of 144,000 compared to the same month last year.
Following July (172,000) and August (123,000), the figure remained in the 100,000 range for three consecutive months.
By industry, employment increased in information and communication (105,000), professional, scientific and technical services (83,000), and transportation and warehousing (79,000), while it decreased in wholesale and retail trade (-104,000), construction (-100,000), and manufacturing (-49,000).
The decrease in employment in the construction sector recorded the largest drop since the revision to the 10th industry classification in 2013. Wholesale and retail trade and construction sectors showed a decline for seven and five consecutive months, respectively.
By employment status, among wage workers, permanent workers increased by 79,000 and temporary workers by 206,000, but daily workers decreased by 125,000.
Among non-wage workers, self-employed persons with employees increased by 17,000 and those without employees by 5,000, while unpaid family workers decreased by 38,000.
The employment rate for those aged 15 and over recorded 63.3%, rising by 0.1 percentage points compared to a year ago. This is the highest level for September since monthly statistics began in 1982.
The employment rate for ages 15-64, the OECD comparison standard, was 69.9%, up 0.3 percentage points from the same month last year. The youth employment rate (ages 15-29) was 45.8%, down 0.7 percentage points compared to the same month last year.
The unemployment rate was 2.1%, down 0.2 percentage points from a year ago. The number of unemployed persons sharply decreased by 39,000 to 622,000 compared to the same month last year. Unemployment decreased among those in their 40s (-17,000) and 20s (-14,000).
Youth unemployment decreased by 14,000 compared to a year ago, and the youth unemployment rate was 5.1%, down 0.1 percentage points from the same month last year.
The economically inactive population was 16,125,000, an increase of 54,000 (0.3%) compared to a year ago. By gender, the number of men was 6,118,000, up 204,000 (3.4%) from the same month last year, while women numbered 10,007,000, down 150,000 (-1.5%).
Among the economically inactive population, the number of people who 'rested' by age group increased compared to the same month last year in those aged 60 and over (106,000) and those in their 20s (63,000).
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