South Korea's employment figures for the month of August are out,... and they paint a brighter picture for jobseekers.<br />Kim Hyesung reports. <br />Around 452-thousand jobs were added on-year in August-- the biggest jump since March 2017.<br />According to Statistics Korea, it's the first job increase of more than 300-thousand since January 2018. <br />The employment rate for those aged 15 and above recorded 61-point-four percent, up point-five percentage points on year.<br />The number of people unemployed also fell by more than 270-thousand to less than 860-thousand people, making it the biggest monthly drop in more than eight years. <br />That brought the unemployment rate down one percentage point to three percent, the lowest level for August in nearly six years.<br />The youth unemployment rate also fell near three percentage points on year to seven-point-two percent. <br />Statistics Korea attributed the job growth partly to a base effect as only three-thousand jobs were added in August 2018.<br />Jobs in health and social welfare services also grew by 174-thousand.<br />But the manufacturing sector continued to see job creation fall for the 17th consecutive month, down 24-thousand on-year.<br />Finance sector jobs also fell for the eighth consecutive month.<br />Retail and wholesale jobs dropped more than 50-thousand. <br />By age group, those in their 20s, 50s and 60s saw job creation go up, but those in their 30s and 40s still saw job creation fall. <br />Near 400-thousand jobs created in August were jobs for the elderly, boosted by government finances. But high-quality jobs like those in manufacturing continued to drop. The pace of the decrease, however, eased from the previous month, resulting in a total job growth in August of 450-thousand. If you look at the details, the quality of these jobs is still low."<br />Finance minister Hong Nam-ki said the August jobs data is very encouraging and that the government will continue its policy efforts to help the job growth continue.<br />Kim Hyesung, Arirang News.<br />
