Number of people employed in Korea up 310,000 in July


The government has released Korea’s employment
figures for July… and this barometer of the country’s economy is showing an increase
in the size of Korea’s workforce. Kim Hyesung has the details. The number of people in Korea’s workforce
was up 310-thousand in July compared to the same month last year. “The manufacturing sector showed a turnaround
starting June. The manufacturing workforce increased in July
thanks to a base effect from last year, and an increase in exports of manufacturing goods.” The manufacturing sector posted 50-thousand
more jobs in July. Construction, education, and real estate also
added more jobs. On the other hand, services, including publications
and information services, finance and insurance saw the number of jobs drop. The employment rate increased slightly to
61-point-five percent. The number of unemployed also fell below the
one-million mark in July, the first time in seven months. The unemployment rate stood at 3.5%, staying
flat from the same period last year. But the youth unemployment rate increased
slightly to nine-point-three percent. As the number of people who have given up
looking for jobs, and the number of job seekers increased, the labor underutilization indicator,
the unemployment rate actually felt, is over 22 percent. Kim Hyesung, Arirang News.

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