Employment Insurance Subscribers Increase by 154,000
Smallest March Growth on Record
Unemployment Benefit Recipients Reach 693,000
Job-to-Applicant Ratio at 0.32...Lowest Since IMF Era
Last month, the increase in the number of regular subscribers to employment insurance was limited to 150,000, marking the lowest growth for March on record. The construction industry, which is experiencing poor economic conditions, continued its decline in subscribers for the 20th consecutive month. The number of unemployment benefit recipients and the amount paid both exceeded 690,000 and 1 trillion won respectively, setting a new high since March 2021. The number of jobs per job seeker was the lowest since the IMF period. Various employment indicators all hit bottom, reflecting the sluggish economic situation.
According to the 'Labor Market Trends Based on Employment Administration Statistics for March 2025' released by the Ministry of Employment and Labor on the 7th, as of the end of last month, the number of regular subscribers to employment insurance was 15,435,000, an increase of 154,000 (1.0%) compared to the same month last year. This is the smallest increase for March since related statistics began in 1998.
By industry, manufacturing (6,000) and service sectors (170,000) saw an increase in employment insurance subscribers. Manufacturing increased mainly in automobiles, other transportation equipment, and chemical products, but decreased in textiles, metal processing, and machinery equipment. The service sector increased in health and welfare, business services, etc., but retail and wholesale, and information and communication continued to decline.
The construction industry (-21,000) showed a negative trend for 20 consecutive months. Since January, it has maintained a decrease of over 20,000 for three consecutive months. Cheon Kyung-gi, head of the Future Employment Analysis Division at the Ministry of Employment, explained, "Last month, the decrease was centered on general construction, males, and those in their 40s."
By age group, the effects of aging trends and changes in population structure appeared. Employment insurance subscribers increased among those in their 30s (67,000), 50s (56,000), and 60 and older (184,000), while those under 29 (-104,000) and those in their 40s (-49,000) decreased.
New applications for unemployment benefits last month were 137,000, an increase of 6,000 (4.6%). The number of unemployment benefit recipients increased by 38,000 (5.9%) to 693,000, the largest scale for March since 2021 (759,000). The amount paid also rose by 81.5 billion won (8.4%) to 1.051 trillion won, marking the highest amount for March since 2021 (1.179 trillion won).
New job postings using Employment24 last month were 154,000, a decrease of 45,000 (-22.8%). The number of job postings declined in manufacturing, business services, retail and wholesale, and construction. New job seekers numbered 480,000, an increase of 63,000 (15.2%). The job-to-applicant ratio, which is the number of jobs per job seeker, fell by 0.16 points to 0.32. This is the lowest figure for March since the IMF period in 1999 (0.17).
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