February Job-Seeker Allowance Applications Reach Record High of 117,000... Payment Amount Also at All-Time High

Increase of 153,000 Employment Insurance Subscribers in February
Negative Trend Continues for Those Under 29 and in Their 40s
Construction Sector Sees 43.5% Surge in Job-Seeker Benefit Applications
Job-to-Applicant Ratio for February Drops 0.15 Points to 0.40

Last month, the number of job-seeker benefit applicants approached 120,000, marking the highest figure ever recorded for February. This was due to an increase in applicants from sectors such as construction amid a sluggish economy. The amount paid in job-seeker benefits exceeded 1 trillion won, the highest for February since related statistics began in 1997.

A worker is carrying water and moving at a construction site in Jangwi-dong, Seongbuk-gu, Seoul.

According to the 'Labor Market Trends Based on February 2025 Employment Administration Statistics' released by the Ministry of Employment and Labor on the 10th, as of the end of last month, the number of regular subscribers to employment insurance was 15.38 million, an increase of 153,000 (1.0%) compared to the same month last year. This is the smallest increase for February since February 2004 (138,000). The growth rate recorded the lowest level since related statistics began in 1998.

In manufacturing (7,000) and service industries (167,000), the number of regular employment insurance subscribers increased. However, excluding the increase in mandatory foreign workers under the Employment Permit System (E9, H2) in manufacturing, there was a decrease of 18,000. The service sector saw increases in health and welfare, business services, and professional science, but retail and information and communications continued to decline. Construction (-21,000) maintained a negative trend for 19 consecutive months, mainly in general construction. The decrease also widened, recording a decline of over 20,000 for two consecutive months following January (-21,000).

By age group, the number of regular employment insurance subscribers increased among those in their 30s (64,000), 50s (63,000), and 60 and older (186,000), reflecting an aging trend. Conversely, those under 29 (-107,000) and in their 40s (-52,000) showed negative trends for 32 and 18 consecutive months respectively, marking the largest decreases ever recorded for February. Cheon Kyung-gi, head of the Future Employment Analysis Division at the Ministry of Employment, explained, "Those under 29 and in their 40s were affected by population decline," adding, "The 30s age group is increasing due to the second baby boom generation and higher female labor participation rates."

Last month, new job-seeker benefit applicants numbered 117,000, an increase of 23,000 (25.1%) compared to the same month last year. This is the highest ever for February. Applicants from the construction sector surged by 6,000 (43.5%), and most industries including business services (37,000), manufacturing (34,000), and retail (24,000) showed an upward trend. Cheon said, "There is a tendency for people whose employment contracts ended in January to delay applying for new job-seeker benefits until after the Lunar New Year."

The number of job-seeker benefit recipients increased by 43,000 (6.9%) to 669,000. Increases were seen in construction (21,900), manufacturing (66,000), retail (62,000), and business services (43,000). The amount paid in job-seeker benefits rose by 110.9 billion won (11.5%) to 1.0728 trillion won. This is the highest figure for February since related statistics began in 1997. Cheon explained, "As the number of employment insurance subscribers increases, the proportion of unemployed people also rises proportionally, and the annual increase in the minimum job-seeker benefit amount contributes to this upward trend."

New job postings through Employment24 last month totaled 173,000, a decrease of 12,000 (-6.3%). New job seekers numbered 431,000, an increase of 96,000 (28.5%). The job-to-applicant ratio (number of jobs per job seeker) fell by 0.15 points to 0.40.