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S. Korea's unemployment rate hits 3.8% last year, highest since 2001

2019-01-09 2 Dailymotion

통계청, 고용동향 발표...작년 실업률 17년만에 최고<br /><br />Despite all the efforts by the government to boost employment,.... things are still tough if you're looking for work.<br />In fact, the overall unemployment rate last year hit a level not seen in almost two decades. <br />Our Ko Roon-hee has more. <br />More doom and gloom for jobseekers in Korea... as the latest government figures paint a bleak picture for their prospects.<br />According to Statistics Korea on Wednesday, the overall unemployment rate for last year was 3-point-8 percent... its highest since 2001 when Korea was still recovering from the 1997 Asian financial crisis.<br /> Statistics Korea attributed the hike to sluggish manufacturing and auto industries and an aging society.<br />This means that more Korean seniors are trying to remain in or re-enter the workforce than in the past.<br />Overall, around 26-point-8 million people were employed last year. <br />And the number of newly created jobs in 2018 was also low.<br />It increased by 97-thousand compared to the previous year.<br />This is the smallest increase since 2009. <br />One reason mentioned for the poor figures was the restructuring in the services sector. <br />For the month of December, the number of newly employed people was 34-thousand.<br />This is the lowest since August last year, when just 3-thousand jobs were created. <br />Breaking it down by sector, the number of newly added jobs in December increased in the health and social activities, information and communication industries. <br />However, it decreased in the wholesale and retail, business facilities management, and manufacturing sectors.<br />Analysts say, jobs have mainly been created in the public sector... whereas industries highly affected by the minimum wage hike are struggling.<br />In Korea, the minimum wage was increased by more than 16-percent last year.<br />Ko Roon-hee, Arirang News.

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