KDI, 내년 韓 경제성장률 3.1%로 하향조정…10월 취업자 6개월 만에 최대폭 감소<br /><br />A state-run think tank has downgraded South Korea's GDP growth forecast for next year to 3-point-1 percent, citing the risks posed by the global resurgence of COVID-19.<br />And employment in South Korea was down in October for the eighth month in a row compared to last year.<br />Kim Jae-hee with the details.<br />The Korea Development Institute has revised down South Korea's GDP growth forecast for 2021.<br />In its latest economic assessment report on Wednesday, the think tank forecast the economy would grow 3-point-1 percent next year, after shrinking 1-point-1 percent this year.<br />That three-point-1 percent forecast for next year is point-4 percentage points lower than the previous prediction back in September.<br />The KDI explained the economy has continued to contract, mainly in the service industry, due to growing downside risks stemming from the global resurgence of COVID-19.<br />"Uncertainty is rising with the recent resurgence of COVID-19 in the U.S. and Europe, along with partial lockdowns. Taking into account internal and external factors, South Korea's economic recovery is forecast to be slow and limited."<br />According to the KDI report, total consumption will likely rise just 3-point-3 percent next year.<br />Exports are expected to increase 3-point-1 percent in 2021 amid the gradual global economic recovery, and imports are forecast to rise 3-point-8 percent.<br />Meanwhile, the COVID-19 pandemic continues to leave a painful mark on South Korea's job market, with October seeing the sharpest drop in six months.<br />According to data from Statistics Korea on Wednesday, the number of people in employment last month was around 27 million, down some 421-thousand on-year.<br />This marks the sharpest decline since April.<br />The figure has been on a downward trend for 8 months in a row, which is the longest period of decline since 2009.<br />The KDI forecast that the unemployment rate in 2021 will likely be higher than this year.<br />An expert also warns that new jobs being created are limited to certain sectors only.<br />"The retail and service sectors are suffering due to the pandemic. Only jobs in the online shopping and delivery service industry are being created."<br />But the KDI added that the growth forecast could be revised, depending on the impact of U.S. economic stimulus plans and the speed that COVID-19 vaccines become available.<br />Kim Jae-hee, Arirang News.<br />
