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No. of people employed in S. Korea down on-year for five straight months
Updated: 2020-08-12 10:06:53 KST
Another grim number on the country's job front,
South Korea has lost another 270-thousand jobs in July, logging the fifth consecutive months of decline amid the economic fallout from COVID-19.
According to data released by Statistics Korea on Wednesday, the number of employed people in July was 27.1 million, down 277-thousand from the same period a year earlier.
This is the first time since 2009 in the aftermath of the global financial crisis that the figure has been lower on-year for five months in a row.
The rate of employment for those aged 15 and older was 60.5 percent in July, down one percentage point on-year.
This the lowest figure for the month of July since 2011.
Finance Minister Hong Nam-ki however said on social media, just moments after the data release, that although the situation is grim, July's figures are better compared to the previous three months.
Reporter : jy_rachel@arirang.com