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No. of people employed in S. Korea down 392,000 on-year in May amid COVID-19 outbreak

2020-06-10 23 Dailymotion

'코로나 고용쇼크' 5월 취업자 39.2만명↓…석달 연속 감소<br /><br />We start with more misery for jobseekers in South Korea.<br />Grim numbers as the country's unemployment rate reached its highest for the month of May since 1999.<br />The number of working people fell for a third month in a row last month as local firms were reluctant to hire and more people were laid off amid the coronavirus pandemic.<br />Eum Ji-young reports.<br />South Korea saw job losses for the third straight month in May due to the economic fallout from the coronavirus pandemic.<br />According to data released by Statistics Korea on Wednesday, the number of employed people was around 26-point-9 million,… down 392-thousand from the same month a year earlier.<br />This is the first time the figure has dropped for three months in a row since October 2009 and January 2010 in the aftermath of the global financial crisis.<br />The unemployment rate in May recorded 4-point-5 percent,... the highest for the month of May since records began in 1999.<br />The employment rate for people aged 15 to 64 decreased 1-point-3 percentage points on-year to 65-point-8 percent in May.<br />Out of all the age brackets between 15 and 64, only those in their 60s saw an increase in the employment rate.<br />People between the ages of 40 to 49 were hit hardest in May,... seeing the employment rate drop by one-point-seven percentage points on-year to 74-point-2 percent.<br />The losses were concentrated in business sectors that require face-to-face interaction, like hospitality.<br />Breaking it down by sector, the wholesale and retail sector saw 189-thousand job losses compared to last year, down 5-point-1 percent.<br />The restaurant and lodging sectors saw 183-thousand job losses,... down 7-point-9 percent on-year.<br />Finance Minister Hong Nam-ki said at a meeting with government officials on Wednesday that although the job market has been hit hard, the situation has improved when compared to the previous month.<br />He added that the third COVID-19-related supplementary budget should be approved in June in order to help boost the struggling employment situation.<br />Eum Ji-young, Arirang News.<br /><br />

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