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281,000 jobs created in S. Korea in June y/y: Statistics Korea

2019-07-10 1 Dailymotion

6월 취업자 17개월 만에 최대 증가…고용질은 '하락'<br /><br />There are some signs of improvement in South Korea's jobs market,... with the number of newly employed people reaching a 17-month high in June.<br />However, a deeper dive into the report shows it isn't all good news.<br />Ko Roon-hee has the details.<br />The latest report from the South Korean government shows the number of new jobs continues to be on the upswing.<br />According to Statistics Korea on Wednesday, the number of employed people in South Korea in June was around 27-point-4 million,... up 281-thousand on-year.<br />The increase has surpassed the 200-thousand mark for two months in a row...and its the biggest rise since January 2018.<br />Last month's uptick was mainly due to more new jobs being created in the health and social work sectors,... which jumped by a combined 125-thousand.<br />Analysts say this comes after the government created more public sector jobs in those fields.<br />The employment rate among people aged 15 to 64 marked 67-point-2 percent....marking the highest for the month of June since data was first compiled in 1989.<br />On a dimmer note..., the overall unemployment rate rose to four percent, up from last June's figure of three-point-seven percent.<br />The number of people unemployed came to around 1-point-14 million, which is the highest for the month of June since 1999.<br />As for the reason behind increases in both the employment and unemployment rates, Statistics Korea explained this means more people are looking for jobs as more are being created.<br />Analysts also worry about a decrease in the number of jobs for people in their 30s and 40s as they're supposed to be actively engaged in economic activities.<br />On the contrary, the number in the group aged 60 or older continues to jump...this month by 372-thousand...which contributed the most to the overall number of new jobs.<br />Breaking it down by sector, the number of jobs continued to decline on-year in manufacturing, where jobs are generally of high quality.<br />The number of people employed in that sector fell by 66-thousand on-year...and it has been falling on-year since April last year.<br />An economic expert explained that manufacturing is a big part of the bigger picture.<br />"South Korea's overall exports are falling...including the semiconductor sector. Also, some analysts are predicting that nation's economic growth rate this year will mark below 2-percent. The overall economic slowdown seems to be linked to the sluggish manufacturing sector."<br />Experts say the South Korean government's efforts to boost the economy, for example by deregulation, are crucial to achieving a significant improvement in the job market.<br />Ko Roon-hee, Arirang News.<br />

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