arirang news

Employment figures for October released Updated: 2017-11-15 18:00:15 KST


The number of people newly employed fell in October compared to the previous month although it has increased on-year.
Statistics Korea says the country added 279-thousand new jobs last month compared to a year ago, bringing the total number of people in work to over 26.eight million.
The number of new jobs created fell slightly to the 200-thousand range.
It had been around the 300-thousand range for most months recently, with the exception of August.
The ministry says these jobs are being created on the back of increased employment in the construction and public administration sectors.
The number of those employed in the services sector dropped.
An official from the statistics agency points to low birthrates as the main culprit saying that despite the slowdown in the number of new jobs the employment rate in general has risen zero.two-percentage-points on-year to 61.3-percent.

(Korean )
"Strong job security for regular workers is another reason why employers are hesitant to hire more people. Korea's job security is one of the highest in the OECD, it's so heavily protected that firms can't even lay off workers with low performance."

The youth jobless rate in October edged down slightly from a year earlier to
eight.six percent the fifth consecutive month it saw an on-year decrease.
The overall unemployment rate stood at three.two-percent.
The perceived youth unemployment rate, as felt by regular people, ticked up zero.six percentage points on-year, recording 21-and-7 percent last month.
The figure is the highest since related data was first compiled in 2015.
Kim Ji-yeon, Arirang News.
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