Increase in Wage Worker Jobs in Q2 Reaches 200,000 Range

Statistics Korea '2024 Q2 Wage Worker Job Trends'

The increase in wage worker jobs in the second quarter fell to around 200,000.

According to the "2024 Second Quarter Wage Worker Job Trends" released by Statistics Korea on the 20th, the total number of wage worker jobs in the second quarter of this year was 20,839,000, an increase of 254,000 compared to the same period last year. The rate of increase has slowed compared to the first quarter.

Looking at the quarterly job increase, there is a clear slowdown trend with 379,000 in the second quarter of last year, 346,000 in the third quarter, 293,000 in the fourth quarter, and 314,000 in the first quarter of this year. The number of jobs lost due to company closures or business downsizing was 2,199,000.

By age group, jobs for those aged 60 and over increased by 261,000, a 26.1% increase compared to the previous year. Jobs for those in their 50s also increased by 231,000. On the other hand, jobs for those aged 20 and under decreased by 134,000, and jobs for those in their 40s decreased by 56,000.

By industry, health and social welfare saw the largest increase with 130,000 new jobs, followed by business leasing (32,000) and association repair and personal services (30,000). Jobs in construction (-31,000) and education (-9,000) decreased compared to the same quarter last year.

As of the first quarter, 14,941,000 jobs (71.7%) were continuous jobs held by workers, and 3,444,000 jobs (16.5%) were replaced due to retirement or job change.

Additionally, new jobs created by company formation or business expansion totaled 3,444,000 (16.5%), while jobs lost due to company closures or business downsizing totaled 2,199,000.