Surprise Me!

No. of people employed in S. Korea up 259,000 y/y in May: Statistics Korea

2019-06-12 6 Dailymotion

5월 취업자 25만9천명↑…20만명대 증가폭 회복<br /><br />There are signs of improvement in the jobs situation in South Korea.<br />More than a quarter of a million people added to payrolls last month.<br />Much of that was in food and hospitality, though, while manufactoring jobs posted another major decline.<br />Ko Roon-hee has the details. <br />The latest report from the South Korean government shows new jobs are finally on the upswing. <br />According to Statistics Korea Wednesday, the total number of employed people in May was around 27-point-three million... up 259-thousand on-year. <br />The increase was under the 200-thousand mark for 12 consecutive months until January,... but the figure started to improve in February. <br />Last month's uptick was mainly due to more new jobs in the health and social work sectors,... which jumped by 124-thousand. <br />Analysts say, this comes after the government created more public sector jobs in the field. <br />Jobs in accommodation and the food service sectors also saw an increase of 60-thousand...thanks to more foreigners visiting South Korea. <br />The employment rate among people aged 15 to 64 marked 67-point-1 percent....marking the highest for the month of May since data was first compiled in 1989.<br />On a grimmer note..., the number of jobs continues to decline on-year in the manufacturing sector, considered South Korea's key growth engine.<br />The number of employed people fell more than 70-thousand on year...and it has been falling on-year since April last year.<br /> Analysts point to falling exports, especially to China, as the reason for the decline.<br />Latest data by Korea Customs Service show outbound shipments to China dropped by more than 26-percent on year during the first 10 days of June. <br />This is also related to a decrease in the number of jobs for people in their 30s and 40s in May...and this raises a red flag... as many people in that age range are supposed to be actively engaged in economic activities.<br />To improve the country's sluggish manufacturing industry, analysts suggest diversifying South Korea's export destinations. <br />Ko Roon-hee, Arirang News.<br />

Buy Now on CodeCanyon