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S. Korea adds 652,000 jobs in October; growth continues for 8th month Updated: 2021-11-10 13:48:08 KST


South Korea's economy is showing renewed signs of life.
Employment figures are up againand this time it's up by more than 600-thousand for the second straight month.
Statistics Korea reported that the number of people employed totaled 27.7 million last month, up 2.4 percent on-year.
This means that 652-thousand new jobs were added compared to October last year.
Employment figures have been rising since Marchand in fact they've been growing for eight consecutive months.
The agency attributes the steady growth to several factors.

"Amid social distancing measures, employment in October increased for the eighth straight month. This is largely due to strong exports, the transition to a digital economy, and the base effect from job losses last year."

October's gains were reflected across various sectors.
Health and social welfare, transport and logistics, and education services, all contributed to job growth.
But the wholesale and retail sector still suffered and so have personal services, and art and recreation businesses.
This is, of course, due to COVID-19 flare-ups and strict social distancing measures.
Starting this month, the gradual transition back to normal life is likely to have a positive impact on the job market, especially for in-person services.
One expert though says that boost might not be seen immediately.

"It's possible to expect more jobs to be created in certain service industries. But even though the government has adopted a kind of "With Corona" policy, for the part of the employer, they're not positively willing to hire more people because the situation in the future is not as clear at this moment."

Meanwhile, the country's unemployment rate fell to 2.8 percent last month.
It's the lowest for any October in eight years.
The economically inactive population also dropped to 16.6 million, down for the eighth consecutive month.
Min Suk-hyen, Arirang News.
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