Busan Employment Indicators Continue to Improve... Permanent Employees Reach Record High

Number of Regular Workers Hits All-Time High, Largest Year-on-Year Increase Among Special and Metropolitan Cities

Employment Growth and Manufacturing Employment Increase for 10 Consecutive Months Indicate Continued Stability

Busan City reported that employment indicators such as the employment rate and unemployment rate in Busan continue to show improvement.

According to the "November 2024 Employment Trends" released by Statistics Korea on the 11th, Busan's employment indicators achieved record-breaking levels.

The employment rate for the prime working-age population of 15 to 64 years old, based on the Organization for Economic Cooperation and Development (OECD) standards, reached 67.3%, the highest ever recorded for November. The employment rate for those aged 15 and over, based on International Labour Organization (ILO) standards, also reached 58.2%, marking the highest November employment rate on record.

The unemployment rate was also stable at 2.1%, the lowest ever recorded for November, and the lowest among metropolitan cities, maintaining a steady trend.

Additionally, the number of regular wage workers in Busan reached an all-time high, and the number of employees in the manufacturing sector has increased for 10 consecutive months, indicating continued job stability.

According to the November employment trends, the number of employed persons in Busan increased by 13,000, with a significant rise centered on regular workers. The number of regular wage workers among Busan’s wage earners increased by 67,000 to 970,000, the highest figure since statistics began. The year-on-year growth rate was 7.5%, ranking first among metropolitan cities.

The number of manufacturing workers in Busan increased by 27,000. The increase rate of 12.3% was among the highest nationwide, alongside Daejeon. The number of manufacturing workers in Busan has been rising for 10 consecutive months since February this year, with the growth rate also expanding.

Due to sluggish domestic demand, the number of workers in construction, wholesale and retail trade, and accommodation and food services sectors decreased, but the rate of decline has slowed.

As domestic demand continues to weaken, employment in construction, wholesale and retail trade, and accommodation and food services sectors continues to decline, but the rate of decrease in these sectors is showing signs of slowing down.

The city will continue to monitor improvements in related sectors and make ongoing efforts through customized support plans for the coming year.

Mayor Park Hyung-jun stated, “The increase in the number of employed persons centered on regular workers is a positive development,” adding, “We will continue to do our best to stabilize local employment and restore regional vitality.”